Golden State Equity Partners Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Golden State Equity Partners increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 453 shares of the information technology services provider’s stock after purchasing an additional 33 shares during the quarter. Golden State Equity Partners’ holdings in ServiceNow were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. AdvisorNet Financial Inc boosted its stake in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. PFG Private Wealth Management LLC acquired a new stake in ServiceNow in the 3rd quarter worth about $28,000. Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the 4th quarter worth about $35,000. Fortitude Family Office LLC acquired a new stake in ServiceNow in the 4th quarter worth about $41,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $723.55 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The stock’s 50 day moving average is $759.21 and its two-hundred day moving average is $708.95. The company has a market capitalization of $148.60 billion, a PE ratio of 77.39, a P/E/G ratio of 4.57 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $0.88 EPS. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the business’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 value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the business’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 transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,787,992.40. Following the transaction, 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 ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. UBS Group decreased their price target on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $792.00.

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.