Gradient Investments LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Gradient Investments LLC increased its position in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,857 shares of the information technology services provider’s stock after acquiring an additional 1,069 shares during the quarter. Gradient Investments LLC’s holdings in ServiceNow were worth $9,651,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOW. Polen Capital Management LLC boosted its stake in ServiceNow by 26.5% in the 3rd quarter. Polen Capital Management LLC now owns 3,953,299 shares of the information technology services provider’s stock worth $1,492,805,000 after purchasing an additional 827,285 shares in the last quarter. Tiger Global Management LLC boosted its stake in ServiceNow by 51.8% in the 3rd quarter. Tiger Global Management LLC now owns 1,694,117 shares of the information technology services provider’s stock worth $639,716,000 after purchasing an additional 577,933 shares in the last quarter. Vanguard Group Inc. boosted its stake in ServiceNow by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 16,866,914 shares of the information technology services provider’s stock worth $6,369,116,000 after purchasing an additional 320,130 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in ServiceNow by 37.9% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 890,775 shares of the information technology services provider’s stock worth $423,581,000 after purchasing an additional 244,958 shares in the last quarter. Finally, Stockbridge Partners LLC boosted its stake in ServiceNow by 79.6% in the 1st quarter. Stockbridge Partners LLC now owns 483,554 shares of the information technology services provider’s stock worth $269,286,000 after purchasing an additional 214,243 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

ServiceNow Stock Down 0.3 %

Shares of NOW opened at $441.00 on Friday. The company has a market cap of $89.52 billion, a PE ratio of 275.63, a P/E/G ratio of 5.69 and a beta of 1.03. The business has a fifty day moving average of $439.00 and a 200 day moving average of $412.35. ServiceNow, Inc. has a 52-week low of $337.00 and a 52-week high of $601.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.28. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. ServiceNow had a return on equity of 9.37% and a net margin of 4.49%. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.64 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 377 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $464.59, for a total value of $175,150.43. Following the completion of the sale, the insider now owns 16,990 shares of the company’s stock, valued at $7,893,384.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jacqueline P. Canney sold 1,083 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $461.03, for a total value of $499,295.49. Following the completion of the sale, the insider now directly owns 267 shares in the company, valued at $123,095.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Bedi sold 377 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $464.59, for a total value of $175,150.43. Following the completion of the sale, the insider now owns 16,990 shares of the company’s stock, valued at $7,893,384.10. The disclosure for this sale can be found here. Insiders have sold 63,016 shares of company stock worth $28,805,543 over the last quarter. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of ServiceNow in a research note on Thursday. They issued a “buy” rating on the stock. Morgan Stanley upped their target price on shares of ServiceNow from $520.00 to $612.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Piper Sandler upped their target price on shares of ServiceNow from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. Royal Bank of Canada upped their price target on shares of ServiceNow from $500.00 to $510.00 in a research report on Thursday, January 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $625.00 to $525.00 and set a “buy” rating for the company in a research report on Monday, January 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $517.47.

ServiceNow Company Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.