239 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 239 shares of the information technology services provider’s stock, valued at approximately $169,000.

Several other large investors have also modified their holdings of NOW. Sandbox Financial Partners LLC boosted its holdings in ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares during the period. Raymond James & Associates raised its stake in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after buying an additional 3,438 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of ServiceNow by 4.7% in the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after buying an additional 3,154 shares in the last quarter. Finally, F M Investments LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $1,624,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 1.2 %

Shares of NOW opened at $735.68 on Thursday. The business has a 50-day moving average of $767.53 and a 200 day moving average of $700.42. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a market cap of $151.09 billion, a P/E ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. UBS Group increased their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Tuesday. Finally, Royal Bank of Canada increased their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $780.00.

About ServiceNow

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.