Mather Group LLC. Grows Position in ServiceNow, Inc. (NYSE:NOW)

Mather Group LLC. boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,367 shares of the information technology services provider's stock after acquiring an additional 287 shares during the period. Mather Group LLC.'s holdings in ServiceNow were worth $2,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the period. FMR LLC grew its stake in shares of ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Nicholas Investment Partners LP increased its holdings in ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after purchasing an additional 1,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ServiceNow by 18.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock valued at $209,103,000 after purchasing an additional 31,125 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of ServiceNow during the 4th quarter worth about $2,603,360,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NOW shares. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Evercore ISI increased their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Guggenheim boosted their target price on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

Insider Buying and Selling at ServiceNow

In related news, Director Deborah Black sold 598 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director directly owned 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director directly owned 3,205 shares in the company, valued at $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $3.11 during trading on Wednesday, reaching $1,008.78. The company's stock had a trading volume of 871,420 shares, compared to its average volume of 1,481,334. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a market cap of $208.80 billion, a price-to-earnings ratio of 137.06, a price-to-earnings-growth ratio of 4.72 and a beta of 0.94. The firm has a 50 day moving average of $995.96 and a 200-day moving average of $964.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.41 earnings per share. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Company 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.