Raymond James & Associates Has $234.14 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Raymond James & Associates lifted its position in ServiceNow, Inc. (NYSE:NOWFree Report) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,406 shares of the information technology services provider’s stock after purchasing an additional 18,442 shares during the quarter. Raymond James & Associates owned 0.16% of ServiceNow worth $234,135,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Foundation Advisors grew its position in ServiceNow by 2.1% in the second quarter. First Foundation Advisors now owns 5,292 shares of the information technology services provider’s stock valued at $2,974,000 after acquiring an additional 108 shares during the period. First Hawaiian Bank grew its position in ServiceNow by 2.2% in the third quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock valued at $4,200,000 after acquiring an additional 165 shares during the period. F M Investments LLC bought a new stake in ServiceNow in the third quarter valued at $1,624,000. Treasurer of the State of North Carolina grew its position in ServiceNow by 2.1% in the second quarter. Treasurer of the State of North Carolina now owns 91,705 shares of the information technology services provider’s stock valued at $51,535,000 after acquiring an additional 1,920 shares during the period. Finally, Corient Private Wealth LLC grew its position in ServiceNow by 1.5% in the third quarter. Corient Private Wealth LLC now owns 151,937 shares of the information technology services provider’s stock valued at $84,930,000 after acquiring an additional 2,214 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOW. Argus increased their target price on ServiceNow from $675.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Truist Financial increased their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird increased their target price on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays increased their target price on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Finally, Needham & Company LLC increased their target price on ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $762.96.

Get Our Latest Stock Analysis on ServiceNow

ServiceNow Stock Up 0.1 %

NOW stock opened at $774.15 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $767.06 and a two-hundred day moving average price of $677.11. The company has a market cap of $158.70 billion, a price-to-earnings ratio of 92.05, a P/E/G ratio of 4.93 and a beta of 0.97. ServiceNow, Inc. has a twelve month low of $427.01 and a twelve month high of $815.32.

ServiceNow (NYSE:NOWGet Free Report) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.28% of the stock is owned by company insiders.

About ServiceNow

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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