Slow Capital Inc. Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Slow Capital Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,707 shares of the information technology services provider’s stock after purchasing an additional 1,195 shares during the quarter. Slow Capital Inc.’s holdings in ServiceNow were worth $3,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter worth $28,000. First Capital Advisors Group LLC. bought a new stake in shares of ServiceNow in the 2nd quarter worth about $29,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the 1st quarter worth about $29,000. AdvisorNet Financial Inc lifted its position in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Steward Financial Group LLC grew its stake in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 35 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2 %

NYSE NOW traded up $8.97 on Wednesday, hitting $744.78. 1,085,831 shares of the company were exchanged, compared to its average volume of 904,049. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The firm has a market capitalization of $152.96 billion, a P/E ratio of 88.56, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97. The company’s 50 day moving average price is $768.63 and its 200-day moving average price is $700.17.

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

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sold 13,164 shares of company stock worth $9,940,303 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. UBS Group lifted their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a report on Monday. Citigroup increased their target price on shares of ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Oppenheimer lifted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $780.00.

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.