Harel Insurance Investments & Financial Services Ltd. Has $30.85 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Harel Insurance Investments & Financial Services Ltd. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 29,298.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,104 shares of the information technology services provider’s stock after buying an additional 29,005 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in ServiceNow were worth $30,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Berbice Capital Management LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $4,150,000. Impact Partnership Wealth LLC bought a new position in shares of ServiceNow during the fourth quarter worth $241,000. Motive Wealth Advisors acquired a new position in shares of ServiceNow in the 4th quarter valued at $223,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of ServiceNow by 4.8% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,572 shares of the information technology services provider’s stock valued at $3,814,000 after buying an additional 163 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its stake in ServiceNow by 6.8% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 313 shares of the information technology services provider’s stock worth $332,000 after buying an additional 20 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the firm’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 transaction, the insider now directly owns 3,027 shares in the company, 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. In the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NOW shares. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. TD Cowen upped their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Truist Financial boosted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.34.

ServiceNow Stock Performance

NOW opened at $1,124.64 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $231.68 billion, a price-to-earnings ratio of 174.91, a PEG ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business has a 50 day moving average of $1,074.80 and a 200-day moving average of $939.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

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.