369 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by SlateStone Wealth LLC

SlateStone Wealth LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, Holdings Channel reports. The firm purchased 369 shares of the information technology services provider’s stock, valued at approximately $261,000.

A number of other hedge funds also recently modified their holdings of NOW. International Assets Investment Management LLC grew its position in ServiceNow by 2.7% in the third quarter. International Assets Investment Management LLC now owns 1,183 shares of the information technology services provider’s stock valued at $646,000 after acquiring an additional 31 shares during the last quarter. Summit Global Investments bought a new position in ServiceNow in the third quarter valued at about $209,000. Capital Investment Advisors LLC bought a new position in ServiceNow in the third quarter valued at about $459,000. Impact Partnership Wealth LLC grew its position in ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 74 shares during the last quarter. Finally, Park Place Capital Corp grew its position in ServiceNow by 9.2% in the third quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock valued at $642,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp initiated coverage on ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Tuesday, April 16th. Truist Financial boosted their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Robert W. Baird boosted their price target on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $21.13 during trading on Tuesday, reaching $743.08. 674,830 shares of the stock traded hands, compared to its average volume of 1,173,015. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. 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 company has a 50-day moving average of $762.90 and a 200-day moving average of $705.19. The stock has a market capitalization of $152.61 billion, a P/E ratio of 88.00, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. Analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,164 shares of company stock valued at $9,940,303. Corporate insiders own 0.25% of the company’s stock.

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.