J.W. Cole Advisors Inc. Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

J.W. Cole Advisors Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 962 shares of the information technology services provider’s stock after purchasing an additional 63 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ServiceNow were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Onyx Bridge Wealth Group LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $386,000. Greenleaf Trust lifted its holdings in shares of ServiceNow by 4.0% during the fourth quarter. Greenleaf Trust now owns 3,228 shares of the information technology services provider’s stock worth $2,281,000 after purchasing an additional 125 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of ServiceNow by 1.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 10,850 shares of the information technology services provider’s stock worth $7,665,000 after purchasing an additional 112 shares during the period. Fidelis Capital Partners LLC lifted its holdings in shares of ServiceNow by 4.0% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,068 shares of the information technology services provider’s stock worth $755,000 after purchasing an additional 41 shares during the period. Finally, Western Wealth Management LLC lifted its holdings in shares of ServiceNow by 39.3% during the fourth quarter. Western Wealth Management LLC now owns 1,262 shares of the information technology services provider’s stock worth $892,000 after purchasing an additional 356 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Royal Bank of Canada raised their target price on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. JMP Securities raised their target price on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Mizuho raised their target price on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group raised their target price on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Piper Sandler raised their target price on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $780.37.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Up 1.2 %

NOW opened at $722.57 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $148.40 billion, a price-to-earnings ratio of 85.92, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business has a 50-day moving average of $762.90 and a two-hundred day moving average of $705.19. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, research analysts expect that ServiceNow, Inc. will post 6.16 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.