Silver Oak Securities Incorporated Has $1.10 Million Stock Position in ServiceNow, Inc. $NOW

Silver Oak Securities Incorporated raised its position in ServiceNow, Inc. (NYSE:NOWFree Report) by 632.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,146 shares of the information technology services provider’s stock after buying an additional 6,171 shares during the quarter. Silver Oak Securities Incorporated’s holdings in ServiceNow were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Focus Financial Network Inc. grew its position in ServiceNow by 286.1% in the fourth quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider’s stock worth $8,219,000 after acquiring an additional 39,756 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of ServiceNow by 299.4% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 49,283 shares of the information technology services provider’s stock valued at $7,550,000 after purchasing an additional 36,944 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of ServiceNow by 428.0% during the 4th quarter. Brookstone Capital Management now owns 91,158 shares of the information technology services provider’s stock valued at $13,964,000 after purchasing an additional 73,894 shares in the last quarter. Jacobs & Co. CA lifted its stake in shares of ServiceNow by 477.3% in the 4th quarter. Jacobs & Co. CA now owns 60,245 shares of the information technology services provider’s stock valued at $9,228,000 after purchasing an additional 49,809 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in ServiceNow by 7.1% in the third quarter. Sei Investments Co. now owns 396,517 shares of the information technology services provider’s stock worth $364,903,000 after purchasing an additional 26,241 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Capital One Financial lowered their target price on shares of ServiceNow from $188.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. TD Cowen reduced their price target on ServiceNow from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Monday, March 16th. BMO Capital Markets lowered their price objective on ServiceNow from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, January 29th. Finally, Macquarie Infrastructure cut their price objective on ServiceNow from $172.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $189.77.

Get Our Latest Report on ServiceNow

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 3,696 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares of the company’s stock, valued at $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,237 shares of company stock worth $1,697,162 in the last 90 days. 0.34% of the stock is owned by company insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

ServiceNow Stock Down 0.5%

ServiceNow stock opened at $104.02 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. ServiceNow, Inc. has a fifty-two week low of $98.00 and a fifty-two week high of $211.48. The firm has a fifty day moving average price of $111.59 and a two-hundred day moving average price of $148.31. The firm has a market cap of $108.80 billion, a price-to-earnings ratio of 62.36, a P/E/G ratio of 1.75 and a beta of 1.00.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow Profile

(Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

Read More

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.