Hilltop Holdings Inc. Makes New Investment in ServiceNow Inc (NYSE:NOW)
Hilltop Holdings Inc. acquired a new position in shares of ServiceNow Inc (NYSE:NOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 711 shares of the information technology services provider’s stock, valued at approximately $200,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Kayak Investment Partners LLC raised its position in ServiceNow by 31.7% in the 4th quarter. Kayak Investment Partners LLC now owns 42,763 shares of the information technology services provider’s stock valued at $12,073,000 after purchasing an additional 10,300 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of ServiceNow by 89.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,237 shares of the information technology services provider’s stock worth $4,255,000 after buying an additional 7,173 shares during the period. Praesidium Investment Management Company LLC increased its stake in shares of ServiceNow by 7.0% during the fourth quarter. Praesidium Investment Management Company LLC now owns 671,354 shares of the information technology services provider’s stock worth $189,537,000 after buying an additional 44,161 shares during the period. Captrust Financial Advisors increased its stake in shares of ServiceNow by 1,203.8% during the fourth quarter. Captrust Financial Advisors now owns 1,043 shares of the information technology services provider’s stock worth $304,000 after buying an additional 963 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new stake in ServiceNow in the fourth quarter valued at approximately $185,000. Institutional investors and hedge funds own 97.20% of the company’s stock.
NOW opened at $264.67 on Thursday. ServiceNow Inc has a one year low of $213.99 and a one year high of $362.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $51.63 billion, a P/E ratio of 83.49, a price-to-earnings-growth ratio of 9.72 and a beta of 1.32. The business’s 50-day simple moving average is $319.95 and its 200-day simple moving average is $285.28.
Several research analysts have commented on NOW shares. Bank of America boosted their price target on shares of ServiceNow from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Canaccord Genuity raised their price objective on shares of ServiceNow from $285.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays restated a “buy” rating and issued a $345.00 price objective on shares of ServiceNow in a report on Friday, January 31st. Deutsche Bank cut shares of ServiceNow from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, March 18th. Finally, SunTrust Banks boosted their target price on shares of ServiceNow from $321.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $353.81.
In other news, insider Chirantan Jitendra Desai sold 1,563 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $302.35, for a total transaction of $472,573.05. Following the completion of the sale, the insider now owns 38,697 shares in the company, valued at $11,700,037.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic B. Luddy sold 26,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $273.56, for a total value of $7,112,560.00. Following the transaction, the director now directly owns 1,213 shares in the company, valued at approximately $331,828.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,104 shares of company stock worth $37,908,647. 1.00% of the stock is currently owned by corporate insiders.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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