Wealth Alliance Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Wealth Alliance increased its position in ServiceNow, Inc. (NYSE:NOW) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 992 shares of the information technology services provider’s stock after acquiring an additional 34 shares during the period. Wealth Alliance’s holdings in ServiceNow were worth $701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC bought a new stake in ServiceNow in the 3rd quarter worth approximately $28,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow in the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the 1st quarter worth approximately $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% in the 4th 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 period. Finally, Steward Financial Group LLC grew its position in ServiceNow by 125.0% in the 3rd 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 during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday. Oppenheimer boosted their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. UBS Group boosted their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. Finally, JMP Securities upped their target price on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Price Performance

Shares of NOW stock opened at $735.68 on Thursday. 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’s 50-day simple moving average is $767.53 and its two-hundred day simple moving average is $700.42. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The company has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a P/E/G ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the 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 owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was 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 of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Profile

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.