Financial Counselors Inc. Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Financial Counselors Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,171 shares of the information technology services provider’s stock after purchasing an additional 1,378 shares during the quarter. Financial Counselors Inc.’s holdings in ServiceNow were worth $16,370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the period. State Street Corp boosted its holdings in ServiceNow by 1.8% during the 1st quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after acquiring an additional 141,744 shares during the period. Morgan Stanley boosted its holdings in ServiceNow by 4.3% during the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after acquiring an additional 288,522 shares during the period. FMR LLC lifted its holdings in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of ServiceNow by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after buying an additional 79,037 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW traded down $13.70 during mid-day trading on Wednesday, reaching $768.52. The company’s stock had a trading volume of 860,516 shares, compared to its average volume of 1,193,704. 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 firm has a market capitalization of $157.84 billion, a PE ratio of 91.38, a P/E/G ratio of 4.96 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The stock has a fifty day moving average of $770.52 and a two-hundred day moving average of $693.48.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. JMP Securities boosted their price target on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Finally, Truist Financial boosted their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $772.22.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’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 sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul John Smith sold 1,180 shares of the 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 transaction, 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 a total of 13,164 shares of company stock worth $9,940,303 over the last ninety days. Company insiders own 0.28% of the company’s stock.

ServiceNow 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.