ServiceNow, Inc. (NYSE:NOW) Position Increased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in ServiceNow, Inc. (NYSE:NOW) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,553 shares of the information technology services provider’s stock after purchasing an additional 78 shares during the quarter. Ritholtz Wealth Management’s holdings in ServiceNow were worth $2,706,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT acquired a new position in ServiceNow in the second quarter worth approximately $256,000. Mercer Global Advisors Inc. ADV increased its stake in shares of ServiceNow by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after purchasing an additional 2,595 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of ServiceNow by 7.6% during the 2nd quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock valued at $5,025,000 after purchasing an additional 450 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of ServiceNow by 0.7% in the 2nd quarter. Brighton Jones LLC now owns 2,959 shares of the information technology services provider’s stock valued at $2,328,000 after purchasing an additional 20 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in ServiceNow by 24.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,569 shares of the information technology services provider’s stock worth $7,528,000 after buying an additional 1,893 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.4 %

NOW stock opened at $1,072.02 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $1,068.39 and its 200-day moving average is $929.31. The firm has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOW. Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Raymond James started coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.