Cross Staff Investments Inc Has $389,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Cross Staff Investments Inc grew its stake in ServiceNow, Inc. (NYSE:NOW) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 550 shares of the information technology services provider’s stock after buying an additional 50 shares during the period. Cross Staff Investments Inc’s holdings in ServiceNow were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Disciplined Equity Management Inc. acquired a new position in ServiceNow in the fourth quarter valued at approximately $35,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in ServiceNow by 6.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,862 shares of the information technology services provider’s stock valued at $3,435,000 after purchasing an additional 286 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in ServiceNow by 8.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,237 shares of the information technology services provider’s stock worth $1,582,000 after buying an additional 170 shares during the last quarter. Kennicott Capital Management LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $377,000. Finally, Yousif Capital Management LLC boosted its stake in ServiceNow by 4.4% during the 4th quarter. Yousif Capital Management LLC now owns 28,822 shares of the information technology services provider’s stock worth $20,362,000 after acquiring an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.9 %

Shares of NYSE:NOW traded up $6.41 during mid-day trading on Friday, hitting $722.66. The company had a trading volume of 1,047,506 shares, compared to its average volume of 1,211,135. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $148.42 billion, a PE ratio of 78.27, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. The firm has a fifty day moving average price of $760.05 and a 200 day moving average price of $706.80. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The stock was 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 in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s 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 in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. UBS Group cut their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup raised their price objective on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $782.85.

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.