ServiceNow, Inc. (NYSE:NOW) Stock Position Boosted by SVB Wealth LLC

SVB Wealth LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,979 shares of the information technology services provider’s stock after acquiring an additional 227 shares during the quarter. SVB Wealth LLC’s holdings in ServiceNow were worth $1,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. PFG Private Wealth Management LLC bought a new position in ServiceNow in the 3rd quarter valued at about $28,000. First Capital Advisors Group LLC. bought a new position in ServiceNow in the 2nd quarter valued at about $29,000. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow during the 1st quarter valued at about $29,000. AdvisorNet Financial Inc boosted its position in shares of ServiceNow by 266.7% during 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 in the last quarter. Finally, Steward Financial Group LLC boosted its position in shares of ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday. Oppenheimer raised their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday. Finally, JMP Securities raised their target price on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Price Performance

Shares of NOW opened at $731.47 on Friday. The firm has a market cap of $150.23 billion, a PE ratio of 86.98, a PEG ratio of 4.65 and a beta of 0.97. The firm’s 50 day moving average price is $766.17 and its 200 day moving average price is $700.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Activity

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 transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $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 90 days. 0.25% of the stock is currently owned by company insiders.

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.