Ritholtz Wealth Management Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Ritholtz Wealth Management lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,240 shares of the information technology services provider’s stock after acquiring an additional 192 shares during the period. Ritholtz Wealth Management’s holdings in ServiceNow were worth $1,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Private Wealth Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $28,000. First Capital Advisors Group LLC. acquired a new stake in ServiceNow during the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow during the 1st quarter worth approximately $29,000. Steward Financial Group LLC increased its position in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. 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. Argus increased their price objective on shares of ServiceNow from $675.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $675.00 to $725.00 and gave the company an “overweight” rating in a research report on Thursday, November 30th. Finally, JMP Securities raised their price target on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $762.96.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last three months. Company insiders own 0.24% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $761.61 on Friday. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm’s 50-day simple moving average is $769.61 and its 200 day simple moving average is $680.16. 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 stock has a market cap of $156.13 billion, a P/E ratio of 90.56, a P/E/G ratio of 4.83 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.40 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 6.11 EPS 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.