Beta Wealth Group Inc. Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Beta Wealth Group Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,127 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the period. Beta Wealth Group Inc.’s holdings in ServiceNow were worth $1,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 17.3% during 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. Jennison Associates LLC grew its holdings in shares of ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NOW shares. BMO Capital Markets dropped their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research report on Tuesday, May 7th. Wells Fargo & Company raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $808.73.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 917 shares of company stock valued at $690,880 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NYSE:NOW traded down $19.64 during trading hours on Friday, hitting $738.51. 1,357,098 shares of the stock were exchanged, compared to its average volume of 1,130,991. The firm’s fifty day moving average price is $747.11 and its 200 day moving average price is $733.01. ServiceNow, Inc. has a 52-week low of $517.80 and a 52-week high of $815.32. The company has a market cap of $151.39 billion, a P/E ratio of 78.99, a P/E/G ratio of 4.63 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

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.