Handelsbanken Fonder AB Purchases 8,704 Shares of ServiceNow, Inc. (NYSE:NOW)

Handelsbanken Fonder AB lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,064 shares of the information technology services provider’s stock after purchasing an additional 8,704 shares during the quarter. Handelsbanken Fonder AB’s holdings in ServiceNow were worth $48,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings 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 during the last quarter. 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. Finally, Fortitude Family Office LLC acquired a new stake in ServiceNow during the 4th quarter worth approximately $41,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is available through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated 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 in the company, valued at $4,064,229.96. 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. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. KeyCorp assumed coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Tuesday, April 16th. Finally, Citigroup boosted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Price Performance

NOW opened at $713.91 on Monday. The firm has a market cap of $146.62 billion, a P/E ratio of 84.89, a PEG ratio of 4.51 and a beta of 0.97. The firm has a 50-day moving average of $764.19 and a 200 day moving average of $703.95. 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 fifty-two week low of $427.68 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 6.16 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.