New Age Alpha Advisors LLC Boosts Stake in ServiceNow, Inc. $NOW

New Age Alpha Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 765.9% during the fourth quarter, Holdings Channel reports. The firm owned 21,872 shares of the information technology services provider’s stock after buying an additional 19,346 shares during the quarter. New Age Alpha Advisors LLC’s holdings in ServiceNow were worth $3,351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NOW. Cohen Klingenstein LLC raised its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the last quarter. World Investment Advisors raised its holdings in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after acquiring an additional 38,583 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after acquiring an additional 2,064,440 shares during the last quarter. Torray Investment Partners LLC raised its holdings in shares of ServiceNow by 390.5% in the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock worth $6,224,000 after acquiring an additional 32,345 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. HSBC cut their price target on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price target (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Stock Performance

ServiceNow stock opened at $102.13 on Tuesday. The firm has a market capitalization of $105.29 billion, a P/E ratio of 60.86, a PEG ratio of 1.85 and a beta of 0.82. The stock has a fifty day moving average price of $98.53 and a 200 day moving average price of $125.20. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.