Mackenzie Financial Corp Acquires 1,861 Shares of ServiceNow, Inc. (NYSE:NOW)

Mackenzie Financial Corp grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,605 shares of the information technology services provider’s stock after buying an additional 1,861 shares during the period. Mackenzie Financial Corp’s holdings in ServiceNow were worth $72,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. RB Capital Management LLC lifted its holdings in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 192 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of ServiceNow by 17.9% during the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of ServiceNow by 728.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after acquiring an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust grew its position in ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after acquiring an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in ServiceNow by 0.7% in the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after purchasing an additional 86 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. Citigroup upped their target price on shares of ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Jefferies Financial Group lifted their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Piper Sandler increased their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $780.00.

ServiceNow Stock Down 4.3 %

NOW stock opened at $735.81 on Tuesday. The firm’s fifty day simple moving average is $769.28 and its 200-day simple moving average is $698.87. The company has a market capitalization of $151.12 billion, a P/E ratio of 87.46, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

About ServiceNow

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.