Y.D. More Investments Ltd Grows Holdings in ServiceNow, Inc. $NOW

Y.D. More Investments Ltd lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1,964.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,750 shares of the information technology services provider’s stock after buying an additional 16,890 shares during the quarter. Y.D. More Investments Ltd’s holdings in ServiceNow were worth $2,719,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brady Martz Wealth Solutions LLC boosted its position in ServiceNow by 1.3% during the third quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider’s stock worth $775,000 after acquiring an additional 11 shares during the last quarter. Magnus Financial Group LLC raised its holdings in ServiceNow by 1.9% in the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock valued at $542,000 after acquiring an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 11 shares during the period. Traveka Wealth LLC lifted its stake in shares of ServiceNow by 3.8% during the 3rd quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider’s stock worth $304,000 after purchasing an additional 12 shares during the period. Finally, Regatta Capital Group LLC boosted its holdings in shares of ServiceNow by 1.9% during the third quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider’s stock worth $583,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,237 shares of company stock valued at $1,697,162. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 0.0%

Shares of NOW opened at $101.98 on Monday. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The firm has a market capitalization of $106.67 billion, a P/E ratio of 61.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $110.44 and its 200 day simple moving average is $146.80.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Argus raised ServiceNow to a “strong-buy” rating in a research report on Wednesday, February 4th. Oppenheimer reiterated an “outperform” rating and set a $175.00 target price (down from $200.00) on shares of ServiceNow in a research report on Wednesday, January 21st. Jefferies Financial Group decreased their price target on ServiceNow from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of ServiceNow in a report on Thursday, January 29th. Finally, Guggenheim raised shares of ServiceNow from a “sell” rating to a “neutral” rating in a research note on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.59.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.