ServiceNow, Inc. $NOW Shares Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group dramatically increased its ServiceNow stake in the fourth quarter, buying enough shares to raise its position by 2,957.5% and bringing its holdings to 16,602 shares worth about $2.54 million.
• Wall Street remains cautiously positive on ServiceNow: analysts still show a consensus rating of “Moderate Buy,” though several recently cut price targets. The average target now sits at $141.85.
• ServiceNow reported solid quarterly results, matching EPS estimates at $0.97 and beating revenue expectations with $3.77 billion in sales, up 22.1% year over year. The stock was last trading near $100, well below its 52-week high of $211.48.

Jefferies Financial Group Inc. raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2,957.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,602 shares of the information technology services provider's stock after buying an additional 16,059 shares during the quarter. Jefferies Financial Group Inc.'s holdings in ServiceNow were worth $2,543,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NOW. IAG Wealth Partners LLC grew its stake in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC grew its stake in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC grew its stake in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the period. Lodestone Wealth Management LLC acquired a new position in shares of ServiceNow during the 4th quarter worth $26,000. Finally, Albion Financial Group UT grew its stake in shares of ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 136 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Macquarie Infrastructure lowered their price target on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. Morgan Stanley lowered their price target on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Piper Sandler lowered their price target on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. FBN Securities lowered their price target on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Finally, BTIG Research reaffirmed a "buy" rating and set a $150.00 price target on shares of ServiceNow in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow Price Performance

ServiceNow stock opened at $99.99 on Wednesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $98.26 and its 200 day simple moving average is $124.67. The firm has a market capitalization of $103.09 billion, a PE ratio of 59.59, a P/E/G ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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