NorthCrest Asset Manangement LLC Has $1.47 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

NorthCrest Asset Manangement LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the information technology services provider's stock after purchasing an additional 303 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in ServiceNow were worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Brighton Jones LLC grew its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter worth about $48,802,000. Nilsine Partners LLC acquired a new position in ServiceNow during the fourth quarter worth about $257,000. SteelPeak Wealth LLC acquired a new position in ServiceNow during the fourth quarter worth about $357,000. Finally, Foster Group Inc. acquired a new position in ServiceNow during the fourth quarter worth about $211,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the sale, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 191 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,267,020. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,102 shares of company stock worth $2,944,038. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Oppenheimer reiterated an "outperform" rating and issued a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Bank of America decreased their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

NOW traded down $3.43 on Friday, hitting $1,011.80. 2,663,194 shares of the stock traded hands, compared to its average volume of 1,505,352. ServiceNow, Inc. has a 52 week low of $645.45 and a 52 week high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $209.43 billion, a PE ratio of 148.14, a P/E/G ratio of 4.51 and a beta of 0.97. The business has a fifty day moving average price of $899.20 and a two-hundred day moving average price of $975.24.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.41 earnings per share. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.