Abbrea Capital LLC Buys 60 Shares of ServiceNow, Inc. (NYSE:NOW)

Abbrea Capital LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,480 shares of the information technology services provider’s stock after buying an additional 60 shares during the quarter. Abbrea Capital LLC’s holdings in ServiceNow were worth $1,046,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NOW. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter worth about $28,000. AdvisorNet Financial Inc grew its position in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Steward Financial Group LLC increased its stake in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 35 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $35,000. Finally, Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value 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 document filed with the SEC, which is available at the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction 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 sale, the chief executive officer now 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 SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NOW shares. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $782.85.

ServiceNow Stock Performance

NOW traded down $30.04 on Thursday, reaching $716.25. The company had a trading volume of 3,369,434 shares, compared to its average volume of 1,213,588. The company’s fifty day moving average is $761.32 and its 200 day moving average is $706.74. The stock has a market cap of $147.10 billion, a P/E ratio of 84.27, a P/E/G ratio of 4.68 and a beta of 0.97. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

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. The business had revenue of $2.44 billion during 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 firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

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.