Hartline Investment Corp Has $19.72 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Hartline Investment Corp lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,916 shares of the information technology services provider’s stock after selling 205 shares during the quarter. ServiceNow comprises about 3.2% of Hartline Investment Corp’s investment portfolio, making the stock its 11th largest position. Hartline Investment Corp’s holdings in ServiceNow were worth $19,722,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NOW. International Assets Investment Management LLC lifted its stake 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 valued at $580,486,000 after buying an additional 820,465 shares during the period. FMR LLC lifted its stake in ServiceNow by 17.3% in 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 buying an additional 595,697 shares during the period. Jennison Associates LLC lifted its stake in ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares during the period. Cerity Partners LLC raised its position in shares of ServiceNow by 1,073.7% during the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of ServiceNow during the third quarter worth about $135,075,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. Mizuho increased their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday. The Goldman Sachs Group increased their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Piper Sandler increased their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $780.37.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’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 owns 17,177 shares in the company, 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 valued at $9,940,303 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW traded up $5.34 on Wednesday, reaching $746.29. The stock had a trading volume of 1,696,471 shares, compared to its average volume of 1,186,092. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a 50-day moving average of $762.24 and a 200-day moving average of $706.46. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $153.27 billion, a price-to-earnings ratio of 88.74, a price-to-earnings-growth ratio of 4.56 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (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 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 firm earned $0.88 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 EPS 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.