ServiceNow, Inc. $NOW Position Boosted by HBW Advisory Services LLC

HBW Advisory Services LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 51.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,445 shares of the information technology services provider’s stock after purchasing an additional 6,264 shares during the period. HBW Advisory Services LLC’s holdings in ServiceNow were worth $1,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Covenant Asset Management LLC grew its holdings in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after buying an additional 13,114 shares in the last quarter. Norges Bank bought a new stake in ServiceNow during the 4th quarter valued at $2,020,992,000. World Investment Advisors boosted its position in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the period. Cohen Klingenstein LLC boosted its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $111.32 on Tuesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $114.77 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company’s 50-day moving average price is $102.95 and its two-hundred day moving average price is $110.65.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $145.00 price objective (down from $163.00) on shares of ServiceNow in a research note on Wednesday, July 8th. Barclays reiterated an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. UBS Group restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. TD Cowen reaffirmed a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

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.