ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,369 shares of the information technology services provider’s stock after buying an additional 396 shares during the quarter. Weatherly Asset Management L. P.’s holdings in ServiceNow were worth $4,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the 3rd quarter valued at about $28,000. AdvisorNet Financial Inc grew its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Steward Financial Group LLC grew its holdings in ServiceNow by 125.0% in the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares during the period. Princeton Global Asset Management LLC purchased a new stake in ServiceNow in the 3rd quarter valued at about $35,000. Finally, OFI Invest Asset Management purchased a new stake in ServiceNow in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.6 %

Shares of NOW traded up $19.00 during midday trading on Tuesday, reaching $740.95. 1,056,076 shares of the stock were exchanged, compared to its average volume of 1,178,383. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The firm has a 50 day simple moving average of $762.90 and a 200-day simple moving average of $705.19. 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 market cap of $152.18 billion, a price-to-earnings ratio of 88.25, a P/E/G ratio of 4.51 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, 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business earned $0.88 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Mizuho lifted their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group boosted their target price on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, April 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’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 value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.