Robinhood Asset Management LLC Invests $884,000 in ServiceNow, Inc. $NOW

Robinhood Asset Management LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,771 shares of the information technology services provider’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOW. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after buying an additional 18 shares in the last quarter. Noble Wealth Management PBC raised its stake in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at about $26,000. Albion Financial Group UT raised its stake in shares of ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Finally, Bogart Wealth LLC raised its holdings in ServiceNow by 93.8% during the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NYSE NOW opened at $102.46 on Tuesday. The stock has a market capitalization of $107.17 billion, a P/E ratio of 61.43, a P/E/G ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a 1 year low of $98.00 and a 1 year high of $211.48. The business’s fifty day moving average is $109.76 and its two-hundred day moving average is $146.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.73 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 9,641 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NOW shares. Macquarie Infrastructure dropped their target price on ServiceNow from $172.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. The Goldman Sachs Group set a $216.00 target price on ServiceNow in a report on Monday, February 2nd. Stifel Nicolaus dropped their target price on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Oppenheimer reissued an “outperform” rating and set a $175.00 target price (down from $200.00) on shares of ServiceNow in a report on Wednesday, January 21st. Finally, Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $188.59.

ServiceNow Profile

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.