Procyon Advisors LLC Acquires 94 Shares of ServiceNow, Inc. (NYSE:NOW)

Procyon Advisors LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,095 shares of the information technology services provider’s stock after purchasing an additional 94 shares during the period. Procyon Advisors LLC’s holdings in ServiceNow were worth $2,221,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. raised its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 10 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC grew its holdings in ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after purchasing an additional 12 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction dated 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 owns 11,000 shares in the company, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW opened at $1,072.02 on Friday. The company has a 50 day moving average of $1,068.39 and a two-hundred day moving average of $929.31. The company has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets increased their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Piper Sandler boosted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Robert W. Baird lifted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

ServiceNow Company 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.