Lewis Asset Management LLC Invests $550,000 in ServiceNow, Inc. (NYSE:NOW)

Lewis Asset Management LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 778 shares of the information technology services provider’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc boosted its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow during the third quarter worth $28,000. First Capital Advisors Group LLC. purchased a new stake in shares of ServiceNow during the second quarter worth $29,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the first quarter worth $29,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $41,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.2 %

NYSE NOW opened at $757.69 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $770.28 and its two-hundred day moving average is $686.62. The company has a market capitalization of $155.33 billion, a price-to-earnings ratio of 90.09, a PEG ratio of 4.84 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last released 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. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow 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 sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, 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 is accessible through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred 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 ninety days, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOW. Robert W. Baird increased their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Mizuho raised their target price on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. JMP Securities raised their target price on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Needham & Company LLC raised their target price on ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, KeyCorp started coverage on ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $762.96.

About ServiceNow

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.