Outlook Wealth Advisors LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Outlook Wealth Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 757 shares of the information technology services provider’s stock, valued at approximately $535,000.

Other hedge funds have also modified their holdings of the company. Sandbox Financial Partners LLC raised its stake in ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares during the period. First Hawaiian Bank lifted its stake in ServiceNow by 2.2% in the 3rd quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock worth $4,200,000 after acquiring an additional 165 shares in the last quarter. Raymond James & Associates boosted its position in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Sequoia Financial Advisors LLC boosted its position in ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the period. Finally, Fifth Third Bancorp grew its stake in ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after acquiring an additional 3,154 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NOW. Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. JMP Securities boosted their price target on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Mizuho increased their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $772.22.

ServiceNow Stock Performance

NOW traded down $2.63 during midday trading on Friday, reaching $768.71. The company’s stock had a trading volume of 960,000 shares, compared to its average volume of 971,665. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The stock has a market cap of $157.88 billion, a P/E ratio of 91.40, a PEG ratio of 4.86 and a beta of 0.97. The company has a fifty day simple moving average of $770.27 and a 200 day simple moving average of $696.53. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

ServiceNow Company 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.