Stevens Capital Management LP Buys Shares of 1,250 ServiceNow, Inc. (NYSE:NOW)

Stevens Capital Management LP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,250 shares of the information technology services provider’s stock, valued at approximately $883,000.

Several other large investors have also made changes to their positions in NOW. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. PFG Private Wealth Management LLC bought a new stake in ServiceNow in the third quarter valued at $28,000. Disciplined Equity Management Inc. bought a new stake in ServiceNow in the fourth quarter valued at $35,000. Fortitude Family Office LLC bought a new stake in ServiceNow in the fourth quarter valued at $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NOW shares. Wells Fargo & Company increased their target price on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price target on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial increased their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird increased their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, 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. Three equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Stock Down 4.0 %

NYSE NOW traded down $30.04 on Thursday, hitting $716.25. 3,371,007 shares of the company were exchanged, compared to its average volume of 1,213,608. The company has a market cap of $147.10 billion, a PE ratio of 84.27, a PEG ratio of 4.68 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 stock has a fifty day moving average of $761.32 and a 200-day moving average of $706.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last issued 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

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.