Pure Financial Advisors LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Pure Financial Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 784 shares of the information technology services provider’s stock after buying an additional 62 shares during the period. Pure Financial Advisors LLC’s holdings in ServiceNow were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Regent Peak Wealth Advisors LLC lifted its stake in ServiceNow by 4.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 392 shares of the information technology services provider’s stock worth $416,000 after purchasing an additional 15 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in ServiceNow by 14.2% during the fourth quarter. Koshinski Asset Management Inc. now owns 3,367 shares of the information technology services provider’s stock worth $3,569,000 after buying an additional 419 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in ServiceNow by 7.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 11,517 shares of the information technology services provider’s stock worth $12,209,000 after buying an additional 825 shares during the last quarter. Bremer Bank National Association purchased a new stake in ServiceNow in the 4th quarter valued at $213,000. Finally, Thrive Wealth Management LLC increased its stake in shares of ServiceNow by 4.5% in the 4th quarter. Thrive Wealth Management LLC now owns 416 shares of the information technology services provider’s stock worth $441,000 after acquiring an additional 18 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,097.53 on Wednesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $226.09 billion, a P/E ratio of 170.69, a PEG ratio of 4.85 and a beta of 0.99. The firm has a fifty day moving average price of $1,070.37 and a 200 day moving average price of $935.27.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho lifted their price target on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald began coverage on ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,090.72.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last three months. Insiders own 0.25% of the company’s stock.

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.