ServiceNow, Inc. $NOW Shares Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 350.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,970 shares of the information technology services provider’s stock after purchasing an additional 6,202 shares during the period. HBK Sorce Advisory LLC’s holdings in ServiceNow were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Mathes Company Inc. lifted its stake in shares of ServiceNow by 620.0% in the 4th quarter. Mathes Company Inc. now owns 2,700 shares of the information technology services provider’s stock valued at $414,000 after purchasing an additional 2,325 shares during the last quarter. Allen Capital Group LLC lifted its stake in shares of ServiceNow by 412.7% in the 4th quarter. Allen Capital Group LLC now owns 4,250 shares of the information technology services provider’s stock valued at $651,000 after purchasing an additional 3,421 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of ServiceNow by 464.3% in the 4th quarter. Hantz Financial Services Inc. now owns 140,396 shares of the information technology services provider’s stock valued at $21,507,000 after purchasing an additional 115,515 shares during the last quarter. Simplify Asset Management Inc. lifted its stake in shares of ServiceNow by 637.4% in the 4th quarter. Simplify Asset Management Inc. now owns 5,929 shares of the information technology services provider’s stock valued at $908,000 after purchasing an additional 5,125 shares during the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in shares of ServiceNow by 389.9% in the 4th quarter. Atticus Wealth Management LLC now owns 2,430 shares of the information technology services provider’s stock valued at $372,000 after purchasing an additional 1,934 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $102.13 on Tuesday. The stock’s 50-day moving average is $98.53 and its two-hundred day moving average is $125.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a market cap of $105.29 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOW. Citic Securities cut their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Robert W. Baird cut their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Citigroup boosted their price objective on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Piper Sandler cut their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, Morgan Stanley cut their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.