Winthrop Advisory Group LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Winthrop Advisory Group LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 633 shares of the information technology services provider’s stock after buying an additional 56 shares during the quarter. Winthrop Advisory Group LLC’s holdings in ServiceNow were worth $671,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC raised its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $39,000. Finally, Dunhill Financial LLC raised its position in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.2 %

Shares of NYSE NOW traded down $11.86 on Monday, hitting $1,012.71. The company had a trading volume of 149,098 shares, compared to its average volume of 999,098. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business has a 50 day moving average of $1,064.01 and a two-hundred day moving average of $924.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $208.62 billion, a P/E ratio of 157.50, a PEG ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Wells Fargo & Company raised their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Scotiabank assumed coverage on ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Jefferies Financial Group lifted their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Barclays lifted their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.