FNY Investment Advisers LLC Buys New Shares in ServiceNow, Inc. (NYSE:NOW)

FNY Investment Advisers LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 660 shares of the information technology services provider’s stock, valued at approximately $699,000.

A number of other hedge funds also recently made changes to their positions in NOW. AdvisorNet Financial Inc boosted its holdings in ServiceNow by 34.4% in the fourth quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock valued at $137,000 after acquiring an additional 33 shares during the last quarter. PFW Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth about $207,000. Parisi Gray Wealth Management increased its position in ServiceNow by 6.1% during the 4th quarter. Parisi Gray Wealth Management now owns 328 shares of the information technology services provider’s stock worth $348,000 after purchasing an additional 19 shares in the last quarter. Friedenthal Financial purchased a new position in ServiceNow in the fourth quarter valued at approximately $55,000. Finally, Enterprise Bank & Trust Co acquired a new position in ServiceNow during the fourth quarter valued at approximately $368,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $1,012.47 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a market capitalization of $208.57 billion, a P/E ratio of 157.46, a PEG ratio of 6.43 and a beta of 0.99. The company has a 50-day simple moving average of $1,065.17 and a 200 day simple moving average of $925.81. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company 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 revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock valued at $20,861,626 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOW. The Goldman Sachs Group upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets increased their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Mizuho boosted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

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.