AXS Investments LLC Acquires 177 Shares of ServiceNow, Inc. (NYSE:NOW)

AXS Investments LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,502 shares of the information technology services provider’s stock after acquiring an additional 177 shares during the quarter. ServiceNow makes up approximately 1.3% of AXS Investments LLC’s investment portfolio, making the stock its 10th largest position. AXS Investments LLC’s holdings in ServiceNow were worth $5,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. AdvisorNet Financial Inc boosted its holdings in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Disciplined Equity Management Inc. acquired a new stake in ServiceNow during the 4th quarter worth approximately $35,000. Sachetta LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $35,000. Fortitude Family Office LLC acquired a new position in shares of ServiceNow during the fourth quarter worth $41,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Citigroup raised their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $808.73.

ServiceNow Stock Down 1.6 %

Shares of ServiceNow stock traded down $12.68 during midday trading on Thursday, hitting $758.15. The company had a trading volume of 843,545 shares, compared to its average volume of 1,194,713. The company has a 50 day moving average of $747.63 and a 200 day moving average of $730.35. The stock has a market capitalization of $155.42 billion, a P/E ratio of 82.22, a P/E/G ratio of 4.87 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $494.13 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, equities analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 602 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 917 shares of company stock worth $690,880. Company 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.