Steel Grove Capital Advisors LLC Purchases 22 Shares of ServiceNow, Inc. (NYSE:NOW)

Steel Grove Capital Advisors LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 5.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 393 shares of the information technology services provider’s stock after buying an additional 22 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in ServiceNow were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Wealth Management Partners LLC raised its holdings in ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 14 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares in the last quarter. Nemes Rush Group LLC boosted its holdings in shares of ServiceNow by 16.3% in the 3rd quarter. Nemes Rush Group LLC now owns 121 shares of the information technology services provider’s stock valued at $68,000 after buying an additional 17 shares during the last quarter. Mayflower Financial Advisors LLC grew its stake in shares of ServiceNow by 1.4% in the third quarter. Mayflower Financial Advisors LLC now owns 1,271 shares of the information technology services provider’s stock valued at $710,000 after buying an additional 18 shares in the last quarter. Finally, SWS Partners increased its holdings in ServiceNow by 0.5% during the third quarter. SWS Partners now owns 3,521 shares of the information technology services provider’s stock worth $1,968,000 after buying an additional 18 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NYSE:NOW traded up $8.14 during mid-day trading on Thursday, reaching $767.14. The stock had a trading volume of 528,394 shares, compared to its average volume of 1,225,993. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The stock has a market capitalization of $157.26 billion, a PE ratio of 90.67, a P/E/G ratio of 4.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50-day simple moving average of $768.99 and a two-hundred day simple moving average of $679.61.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. 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 company posted $0.88 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays increased their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price objective on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company lifted their price objective on shares of ServiceNow from $675.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday, November 30th. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $762.96.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Company insiders own 0.24% of the company’s stock.

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.