Harvest Fund Management Co. Ltd Acquires 170 Shares of ServiceNow, Inc. (NYSE:NOW)

Harvest Fund Management Co. Ltd increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,237 shares of the information technology services provider’s stock after acquiring an additional 170 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ServiceNow were worth $1,582,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NOW. AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. PFG Private Wealth Management LLC bought a new position in ServiceNow in the 3rd quarter valued at $28,000. Fortitude Family Office LLC bought a new position in ServiceNow in the 4th quarter valued at $41,000. Oliver Lagore Vanvalin Investment Group boosted its position in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 14 shares during the last quarter. Finally, Friedenthal Financial bought a new position in ServiceNow in the 4th quarter valued at $44,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Mizuho increased their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group increased their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. KeyCorp began coverage on ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price for the company. Finally, Robert W. Baird increased their target price on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Stock Performance

NOW stock traded up $19.00 during mid-day trading on Tuesday, hitting $740.95. 1,056,076 shares of the company were exchanged, compared to its average volume of 1,178,383. The business has a 50 day simple moving average of $762.24 and a 200-day simple moving average of $706.46. 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 stock has a market capitalization of $152.18 billion, a PE ratio of 88.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

ServiceNow Company 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.