Sfmg LLC Buys Shares of 304 ServiceNow, Inc. (NYSE:NOW)

Sfmg LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 304 shares of the information technology services provider’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares during the last quarter. State Street Corp grew its holdings in shares of ServiceNow by 1.8% during the first quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after buying an additional 141,744 shares during the last quarter. Morgan Stanley grew its holdings in shares of ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after buying an additional 288,522 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of ServiceNow by 2.3% during the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock valued at $1,663,879,000 after buying an additional 79,037 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 5,159 shares of the business’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 completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $735.68 on Thursday. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The stock has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a PEG ratio of 4.71 and a beta of 0.97. The firm has a fifty day simple moving average of $767.53 and a two-hundred day simple moving average of $700.42. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

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, topping 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 firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. BMO Capital Markets raised their target price on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. 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. Jefferies Financial Group raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho raised their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $780.00.

ServiceNow 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.