CloudAlpha Capital Management Limited Hong Kong Purchases 14,550 Shares of ServiceNow, Inc. (NYSE:NOW)

CloudAlpha Capital Management Limited Hong Kong lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,455.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,550 shares of the information technology services provider's stock after purchasing an additional 14,550 shares during the period. ServiceNow comprises 1.0% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 18th largest position. CloudAlpha Capital Management Limited Hong Kong's holdings in ServiceNow were worth $10,986,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider's stock worth $9,923,653,000 after buying an additional 122,577 shares during the last quarter. State Street Corp increased its stake in shares of ServiceNow by 1.8% in the first quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider's stock worth $3,755,904,000 after buying an additional 141,744 shares during the last quarter. Morgan Stanley increased its stake in ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider's stock valued at $2,745,763,000 after purchasing an additional 288,522 shares during the last quarter. FMR LLC increased its stake in ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider's stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in ServiceNow by 2.3% during the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider's stock valued at $1,663,879,000 after purchasing an additional 79,037 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on NOW shares. Oppenheimer boosted their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. UBS Group upped their price target on shares of ServiceNow from $885.00 to $920.00 and gave the stock a "buy" rating in a research report on Monday. JMP Securities upped their price target on shares of ServiceNow from $665.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Monday, January 22nd. Stifel Nicolaus restated a "buy" rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Finally, Piper Sandler upped their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an "overweight" rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $780.00.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company's stock, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company's stock, valued at $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company's stock, valued at $776,373.64. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Down 1.2 %

Shares of NOW traded down $9.10 during trading hours on Wednesday, reaching $735.68. The company's stock had a trading volume of 721,576 shares, compared to its average volume of 1,176,392. The firm has a market cap of $151.09 billion, a price-to-earnings ratio of 87.48, a P/E/G ratio of 4.65 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $767.53 and a two-hundred day moving average of $700.42.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm's revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.16 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.