Robinhood Asset Management LLC Acquires Shares of 5,771 ServiceNow, Inc. $NOW

Robinhood Asset Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,771 shares of the information technology services provider’s stock, valued at approximately $884,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brady Martz Wealth Solutions LLC increased its position in shares of ServiceNow by 1.3% during the third quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock worth $775,000 after acquiring an additional 11 shares during the last quarter. Magnus Financial Group LLC increased its position in shares of ServiceNow by 1.9% during the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock worth $542,000 after acquiring an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after acquiring an additional 11 shares during the last quarter. Traveka Wealth LLC increased its position in shares of ServiceNow by 3.8% during the third quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider’s stock worth $304,000 after acquiring an additional 12 shares during the last quarter. Finally, Regatta Capital Group LLC increased its position in shares of ServiceNow by 1.9% during the third quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider’s stock worth $583,000 after acquiring an additional 12 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.5%

NYSE:NOW opened at $102.46 on Tuesday. The company has a market capitalization of $107.17 billion, a price-to-earnings ratio of 61.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a one year low of $98.00 and a one year high of $211.48. The stock has a 50-day simple moving average of $109.76 and a 200 day simple moving average of $146.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. ServiceNow’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the transaction, the director directly owned 46,430 shares in the company, valued at $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,237 shares of company stock worth $1,697,162 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $180.00 target price on ServiceNow in a research report on Thursday, January 29th. Wells Fargo & Company dropped their target price on ServiceNow from $225.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. DZ Bank raised ServiceNow to a “strong-buy” rating in a research report on Thursday, December 18th. Guggenheim raised ServiceNow from a “sell” rating to a “neutral” rating in a research report on Tuesday, December 16th. Finally, Citigroup lifted their price target on ServiceNow from $235.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $188.59.

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.