Values First Advisors Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Values First Advisors Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 310 shares of the information technology services provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter worth about $872,202,000. Moneta Group Investment Advisors LLC boosted its position in shares of ServiceNow by 69,897.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after buying an additional 854,846 shares during the period. FMR LLC boosted its position in shares of ServiceNow by 17.3% in the third 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after buying an additional 560,908 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after buying an additional 461,614 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW traded up $2.61 during trading hours on Thursday, hitting $761.61. The company’s stock had a trading volume of 1,083,650 shares, compared to its average volume of 1,235,363. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $156.13 billion, a PE ratio of 91.16, a PEG ratio of 4.96 and a beta of 0.97. The company has a 50-day simple moving average of $769.61 and a 200 day simple moving average of $680.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOW. Truist Financial upped their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. TheStreet raised ServiceNow from a “c+” rating to a “b-” rating in a report on Friday, December 8th. Barclays increased their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $675.00 to $725.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $762.96.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction 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 completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.24% of the stock is owned by company 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.