Relyea Zuckerberg Hanson LLC Buys 393 Shares of ServiceNow, Inc. (NYSE:NOW)

Relyea Zuckerberg Hanson LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 89.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 832 shares of the information technology services provider’s stock after acquiring an additional 393 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in ServiceNow were worth $882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Truvestments Capital LLC bought a new position in shares of ServiceNow during the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Oakworth Capital Inc. grew its holdings in ServiceNow by 46.7% during the 3rd 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 in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $39,000. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.7 %

NOW traded up $7.66 during trading hours on Friday, hitting $1,064.82. 164,945 shares of the company’s stock were exchanged, compared to its average volume of 1,086,289. 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The firm has a market cap of $219.35 billion, a P/E ratio of 165.53, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The firm has a 50 day moving average of $1,067.55 and a 200 day moving average of $928.41.

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, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on NOW shares. Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research 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. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Raymond James started coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday. They set an “overweight” rating and a $1,332.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,080.38.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,276 shares of company stock worth $20,535,115. Company insiders own 0.25% of the company’s stock.

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.