14,011 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,011 shares of the information technology services provider’s stock, valued at approximately $14,853,000.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter worth approximately $30,000. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of ServiceNow in the 2nd quarter worth $39,000. Oakworth Capital Inc. grew its holdings in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Raymond James began coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. 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. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $7,007,026.71. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,276 shares of company stock valued at $20,535,115. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.9 %

Shares of NOW stock opened at $1,066.20 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The stock has a market cap of $219.64 billion, a price-to-earnings ratio of 166.03, a PEG ratio of 4.65 and a beta of 0.99. The company’s 50-day moving average price is $1,067.55 and its 200-day moving average price is $928.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

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.