New Jersey Better Educational Savings Trust Takes Position in ServiceNow, Inc. (NYSE:NOW)

New Jersey Better Educational Savings Trust acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 295 shares of the information technology services provider’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. Sandbox Financial Partners LLC grew its position in shares of ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after buying an additional 49,631 shares during the period. Raymond James & Associates boosted its position in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of ServiceNow by 15.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after buying an additional 3,438 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after buying an additional 3,154 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last ninety days. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NOW traded down $30.04 during trading hours on Thursday, reaching $716.25. 3,366,891 shares of the company traded hands, compared to its average volume of 1,213,611. The stock has a market capitalization of $147.10 billion, a P/E ratio of 85.17, a P/E/G ratio of 4.68 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The business has a fifty day moving average price of $761.32 and a 200-day moving average price of $706.74.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. Citigroup boosted their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada boosted their target price on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, KeyCorp decreased their price target on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $782.85.

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.