Silvercrest Asset Management Group LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Silvercrest Asset Management Group LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,213 shares of the information technology services provider's stock after acquiring an additional 326 shares during the period. Silvercrest Asset Management Group LLC's holdings in ServiceNow were worth $3,406,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOW. Quarry LP bought a new stake in ServiceNow in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in ServiceNow in the fourth quarter valued at approximately $34,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 1.0%

ServiceNow stock traded down $10.24 during trading on Friday, hitting $1,005.53. 1,387,522 shares of the company were exchanged, compared to its average volume of 1,528,633. The business's 50 day moving average is $881.74 and its 200 day moving average is $975.26. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $208.14 billion, a P/E ratio of 147.22, a PEG ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NOW shares. Raymond James dropped their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets boosted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Jefferies Financial Group dropped their price target on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 292 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the transaction, the chief financial officer now owns 11,198 shares in the company, valued at approximately $11,030,030. This represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now owns 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock worth $5,230,568 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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.