Redhawk Wealth Advisors Inc. Purchases 10 Shares of ServiceNow, Inc. (NYSE:NOW)

Redhawk Wealth Advisors Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 459 shares of the information technology services provider’s stock after purchasing an additional 10 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in ServiceNow were worth $487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter worth $30,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in ServiceNow during the second quarter valued at approximately $39,000. Oakworth Capital Inc. raised its holdings in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Finally, Dunhill Financial LLC raised its stake in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NOW shares. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. TD Cowen upped their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Truist Financial raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Citigroup boosted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

ServiceNow Price Performance

NOW stock opened at $1,057.20 on Friday. The business’s 50-day moving average is $1,067.55 and its two-hundred day moving average is $928.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $217.78 billion, a P/E ratio of 164.42, a P/E/G ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company earned $1.21 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s 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 of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,276 shares of company stock worth $20,535,115. 0.25% of the stock is currently owned by corporate insiders.

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.