ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Xponance Inc.

Xponance Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,583 shares of the information technology services provider’s stock after buying an additional 195 shares during the period. Xponance Inc.’s holdings in ServiceNow were worth $33,617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Sandbox Financial Partners LLC lifted 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 worth $590,000 after purchasing an additional 66 shares during the last quarter. Raymond James & Associates lifted 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 worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the last quarter. Fifth Third Bancorp lifted its holdings in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after acquiring an additional 3,154 shares during the last quarter. Finally, F M Investments LLC bought a new position in ServiceNow in the third quarter worth about $1,624,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 0.7 %

NYSE NOW traded down $5.09 on Thursday, hitting $731.36. 787,647 shares of the stock were exchanged, compared to its average volume of 1,168,301. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $150.21 billion, a price-to-earnings ratio of 87.68, a P/E/G ratio of 4.71 and a beta of 0.97. The company’s 50-day moving average price is $767.53 and its two-hundred day moving average price is $700.42.

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

Insiders Place Their Bets

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 transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Robert W. Baird raised their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Barclays raised their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $780.37.

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.