Texas Capital Bank Wealth Management Services Inc Takes $475,000 Position in ServiceNow, Inc. $NOW

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Texas Capital Bank Wealth Management Services Inc acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 597 shares of the information technology services provider's stock, valued at approximately $475,000.

Other large investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ServiceNow in the first quarter worth about $1,820,000. Corient IA LLC purchased a new stake in shares of ServiceNow in the first quarter worth about $796,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow in the first quarter worth about $19,278,000. Finally, Nicholas Investment Partners LP lifted its position in shares of 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 worth $2,974,000 after buying an additional 1,938 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $890.73 on Tuesday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $185.27 billion, a price-to-earnings ratio of 112.18, a P/E/G ratio of 3.91 and a beta of 0.93. The stock has a fifty day simple moving average of $964.30 and a two-hundred day simple moving average of $932.15. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business earned $3.13 EPS. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stifel Nicolaus boosted their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Jefferies Financial Group upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Oppenheimer restated an "outperform" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 239 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total value of $250,950.00. Following the completion of the sale, the director directly owned 10,404 shares in the company, valued at approximately $10,924,200. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $860.00, for a total value of $258,000.00. Following the sale, the director directly owned 9,886 shares in the company, valued at $8,501,960. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,038 shares of company stock worth $5,971,973. 0.38% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.