abrdn plc Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

abrdn plc raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 27.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 206,842 shares of the information technology services provider’s stock after purchasing an additional 44,795 shares during the quarter. abrdn plc owned 0.10% of ServiceNow worth $146,132,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. boosted its holdings in ServiceNow by 7.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 962 shares of the information technology services provider’s stock valued at $679,000 after purchasing an additional 63 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in ServiceNow in the fourth quarter valued at $386,000. Greenleaf Trust raised its position in shares of ServiceNow by 4.0% in the fourth quarter. Greenleaf Trust now owns 3,228 shares of the information technology services provider’s stock worth $2,281,000 after acquiring an additional 125 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of ServiceNow by 1.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 10,850 shares of the information technology services provider’s stock worth $7,665,000 after acquiring an additional 112 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in shares of ServiceNow by 4.0% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,068 shares of the information technology services provider’s stock worth $755,000 after acquiring an additional 41 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on NOW shares. Citigroup upped their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities upped their price objective 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. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Truist Financial upped their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $780.37.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.4 %

Shares of ServiceNow stock traded down $17.45 during mid-day trading on Friday, hitting $713.91. The stock had a trading volume of 1,540,609 shares, compared to its average volume of 874,337. The firm has a 50-day moving average of $764.19 and a two-hundred day moving average of $701.74. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month 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 firm has a market cap of $146.62 billion, a P/E ratio of 84.89, a price-to-earnings-growth ratio of 4.62 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share 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 analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current 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.