ServiceNow, Inc. (NYSE:NOW) Holdings Raised by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 5.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,863 shares of the information technology services provider’s stock after buying an additional 520 shares during the period. Park Avenue Securities LLC’s holdings in ServiceNow were worth $10,456,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOW. Kathmere Capital Management LLC boosted its holdings in shares of ServiceNow by 22.5% in the fourth quarter. Kathmere Capital Management LLC now owns 316 shares of the information technology services provider’s stock valued at $335,000 after acquiring an additional 58 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in ServiceNow by 131.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 243,888 shares of the information technology services provider’s stock worth $258,551,000 after purchasing an additional 138,403 shares during the period. Board of the Pension Protection Fund bought a new position in ServiceNow during the 4th quarter valued at $212,000. Fifth Third Wealth Advisors LLC increased its position in shares of ServiceNow by 4.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,923 shares of the information technology services provider’s stock valued at $2,039,000 after purchasing an additional 83 shares during the period. Finally, Oak Thistle LLC bought a new stake in shares of ServiceNow in the 4th quarter worth $217,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,276 shares of company stock valued at $20,535,115. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group lifted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Mizuho increased their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays lifted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

ServiceNow Stock Up 1.4 %

NOW opened at $1,029.85 on Wednesday. The company has a market capitalization of $212.15 billion, a PE ratio of 160.16, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The business has a 50-day moving average of $1,066.34 and a 200-day moving average of $927.52.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.