ServiceNow, Inc. (NYSE:NOW) Stake Raised by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392 shares of the information technology services provider’s stock after buying an additional 15 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in ServiceNow were worth $416,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NOW. State Street Corp grew its stake in shares of ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares in the last quarter. FMR LLC lifted its holdings in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC grew its position in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW traded down $22.45 during midday trading on Tuesday, reaching $1,054.60. The stock had a trading volume of 418,990 shares, compared to its average volume of 794,045. The stock has a market capitalization of $217.25 billion, a P/E ratio of 164.01, a PEG ratio of 6.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The firm’s fifty day simple moving average is $1,056.15 and its 200-day simple moving average is $915.86.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In related 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 directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOW shares. Jefferies Financial Group raised their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Canaccord Genuity Group lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Robert W. Baird upped their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,061.04.

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.