Traphagen Investment Advisors LLC Invests $201,000 in ServiceNow, Inc. (NYSE:NOW)

Traphagen Investment Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 190 shares of the information technology services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of ServiceNow by 5.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock worth $664,000 after acquiring an additional 45 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of ServiceNow by 74.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock valued at $6,202,000 after purchasing an additional 3,364 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of ServiceNow during the 2nd quarter worth $1,680,000. Resources Management Corp CT ADV boosted its stake in ServiceNow by 136.6% in the second quarter. Resources Management Corp CT ADV now owns 1,266 shares of the information technology services provider’s stock valued at $996,000 after buying an additional 731 shares in the last quarter. Finally, Farallon Capital Management LLC raised its stake in ServiceNow by 14.9% during the second quarter. Farallon Capital Management LLC now owns 454,050 shares of the information technology services provider’s stock worth $357,188,000 after acquiring an additional 58,962 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.4 %

Shares of ServiceNow stock opened at $1,097.53 on Wednesday. The firm has a market cap of $226.09 billion, a PE ratio of 170.69, a P/E/G ratio of 4.85 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $1,070.37 and a 200-day moving average price of $935.27.

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

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Truist Financial boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Mizuho boosted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald initiated coverage on ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.72.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,731 shares of company stock worth $21,016,751. Insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

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.