Federated Hermes Inc. Purchases 49,631 Shares of ServiceNow, Inc. (NYSE:NOW)

Federated Hermes Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 19.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,122 shares of the information technology services provider’s stock after buying an additional 49,631 shares during the quarter. Federated Hermes Inc. owned about 0.15% of ServiceNow worth $212,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the third quarter valued at approximately $28,000. First Capital Advisors Group LLC. bought a new stake in shares of ServiceNow during the 2nd quarter worth $29,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow during the 1st quarter worth $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Steward Financial Group LLC increased its stake in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NOW shares. JMP Securities increased their price objective on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Mizuho increased their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp started coverage on shares of ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price objective for the company. Barclays increased their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Piper Sandler boosted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Stock Up 0.2 %

ServiceNow stock traded up $1.16 during mid-day trading on Thursday, reaching $737.61. The stock had a trading volume of 271,332 shares, compared to its average volume of 1,164,049. The company has a market capitalization of $151.49 billion, a price-to-earnings ratio of 87.79, a PEG ratio of 4.71 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. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The company has a 50-day moving average price of $767.53 and a two-hundred day moving average price of $700.42.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on 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 $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 over the last quarter. 0.25% of the stock is currently owned by insiders.

About ServiceNow

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.