Capital Market Strategies LLC Purchases 25 Shares of ServiceNow, Inc. (NYSE:NOW)

Capital Market Strategies LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,048 shares of the information technology services provider’s stock after acquiring an additional 25 shares during the period. Capital Market Strategies LLC’s holdings in ServiceNow were worth $1,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Neville Rodie & Shaw Inc. boosted its stake in ServiceNow by 1.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider’s stock worth $2,819,000 after purchasing an additional 47 shares in the last quarter. Boltwood Capital Management bought a new stake in shares of ServiceNow in the fourth quarter worth approximately $219,000. CWA Asset Management Group LLC raised its stake in ServiceNow by 3.2% during the 4th quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider’s stock valued at $3,821,000 after buying an additional 113 shares during the last quarter. Nordea Investment Management AB increased its position in ServiceNow by 15.7% during the fourth quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider’s stock valued at $633,461,000 after acquiring an additional 81,180 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its stake in shares of ServiceNow by 0.3% in the 4th quarter. Everence Capital Management Inc. now owns 6,313 shares of the information technology services provider’s stock worth $6,693,000 after purchasing an additional 20 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird raised their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays lifted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Raymond James initiated coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,061.04.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,629 shares of company stock valued at $20,861,626. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.2 %

Shares of NOW stock traded up $1.70 during mid-day trading on Monday, reaching $1,075.47. The stock had a trading volume of 380,669 shares, compared to its average volume of 760,438. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The firm has a market capitalization of $221.55 billion, a PE ratio of 167.26, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $1,053.53 and its two-hundred day moving average price is $913.45.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 EPS. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.