Thurston Springer Miller Herd & Titak Inc. Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 63.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,189 shares of the information technology services provider’s stock after purchasing an additional 460 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in ServiceNow were worth $1,260,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC boosted its position in ServiceNow by 5.6% during the 4th quarter. Park Avenue Securities LLC now owns 9,863 shares of the information technology services provider’s stock worth $10,456,000 after purchasing an additional 520 shares during the period. Kathmere Capital Management LLC lifted its stake in shares of ServiceNow by 22.5% during the fourth quarter. Kathmere Capital Management LLC now owns 316 shares of the information technology services provider’s stock worth $335,000 after purchasing an additional 58 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 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 buying an additional 138,403 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $212,000. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of ServiceNow by 4.5% in the fourth 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 buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Canaccord Genuity Group upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Oppenheimer boosted their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Needham & Company LLC raised their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Truist Financial upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

ServiceNow Price Performance

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

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

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock valued at $20,535,115 over the last three months. Company insiders own 0.25% of the company’s stock.

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.