ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Addison Advisors LLC

Addison Advisors LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103 shares of the information technology services provider’s stock after purchasing an additional 23 shares during the quarter. Addison Advisors LLC’s holdings in ServiceNow were worth $73,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Sandbox Financial Partners LLC boosted its position in shares of ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares in the last quarter. Raymond James & Associates boosted its position in shares of ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of ServiceNow by 15.4% during the 4th 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 in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of ServiceNow by 4.7% during the 4th 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 in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW traded up $7.30 during mid-day trading on Friday, hitting $723.55. The company’s stock had a trading volume of 1,445,884 shares, compared to its average volume of 1,087,368. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $759.21 and a 200 day simple moving average of $708.95. The firm has a market capitalization of $148.60 billion, a P/E ratio of 77.39, a P/E/G ratio of 4.57 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business posted $0.88 EPS. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. BMO Capital Markets reduced their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup boosted their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a 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 report on Thursday, January 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $792.00.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value 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 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.