Knights of Columbus Asset Advisors LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Knights of Columbus Asset Advisors LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,850 shares of the information technology services provider’s stock after acquiring an additional 112 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in ServiceNow were worth $7,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of ServiceNow in the fourth quarter worth about $872,202,000. Moneta Group Investment Advisors LLC grew its holdings in shares of ServiceNow by 69,897.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after purchasing an additional 854,846 shares in the last quarter. International Assets Investment Management LLC increased its position in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC raised 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after purchasing an additional 560,908 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated 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 directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 2.5 %

Shares of NOW stock traded down $18.63 on Friday, hitting $712.73. The stock had a trading volume of 810,015 shares, compared to its average volume of 1,166,246. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The business has a 50 day moving average price of $766.17 and a 200 day moving average price of $700.64. The company has a market cap of $146.38 billion, a PE ratio of 84.75, a P/E/G ratio of 4.65 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NOW shares. Royal Bank of Canada boosted their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group lifted their target price on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer boosted their target price on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday. Finally, Jefferies Financial Group lifted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three 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, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $780.37.

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.