Disciplined Equity Management Inc. Acquires New Holdings in ServiceNow, Inc. (NYSE:NOW)

Disciplined Equity Management Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50 shares of the information technology services provider’s stock, valued at approximately $35,000.

Other hedge funds also recently bought and sold shares of the company. Sandbox Financial Partners LLC boosted its position in ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after buying an additional 49,631 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after acquiring an additional 3,154 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on NOW shares. Robert W. Baird increased their price objective on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. JMP Securities reissued a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research report on Tuesday. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Price Performance

Shares of NOW stock traded up $5.44 on Wednesday, reaching $746.39. 1,702,385 shares of the company were exchanged, compared to its average volume of 1,186,092. The company has a market cap of $153.29 billion, a price-to-earnings ratio of 88.75, a P/E/G ratio of 4.56 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The business has a 50-day moving average price of $761.32 and a 200 day moving average price of $706.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal 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.