Sfmg LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Sfmg LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 304 shares of the information technology services provider’s stock, valued at approximately $215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow during the 3rd quarter valued at about $28,000. First Capital Advisors Group LLC. acquired a new position in shares of ServiceNow during the 2nd quarter valued at about $29,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the first quarter valued at approximately $29,000. Finally, Fortitude Family Office LLC purchased a new position in ServiceNow in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday. Truist Financial increased their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Jefferies Financial Group increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup increased their price objective on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $780.00.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on 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 owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 in the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $735.68 on Thursday. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The stock has a market cap of $151.09 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 4.71 and a beta of 0.97. The business has a 50 day moving average of $767.53 and a 200-day moving average of $700.42. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

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.