DSM Capital Partners LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

DSM Capital Partners LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 112 shares of the information technology services provider’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Fortitude Family Office LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $41,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in shares of ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 917 shares of company stock valued at $690,880. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW traded down $19.64 on Friday, reaching $738.51. The stock had a trading volume of 1,357,098 shares, compared to its average volume of 1,130,991. ServiceNow, Inc. has a 12-month low of $517.80 and a 12-month high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $747.11 and its two-hundred day moving average price is $732.26. The company has a market cap of $151.39 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 4.63 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. Citigroup raised their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, KeyCorp lowered their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $808.73.

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.