Franklin Street Advisors Inc. NC Acquires New Position in ServiceNow, Inc. (NYSE:NOW)

Franklin Street Advisors Inc. NC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 189 shares of the information technology services provider’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently modified their holdings of NOW. MGO One Seven LLC boosted its holdings in ServiceNow by 39.8% during the second quarter. MGO One Seven LLC now owns 2,787 shares of the information technology services provider’s stock worth $2,192,000 after buying an additional 794 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in ServiceNow by 9.3% during the second quarter. Hazlett Burt & Watson Inc. now owns 212 shares of the information technology services provider’s stock worth $167,000 after purchasing an additional 18 shares in the last quarter. Linscomb Wealth Inc. grew its holdings in ServiceNow by 3.3% in the second quarter. Linscomb Wealth Inc. now owns 2,412 shares of the information technology services provider’s stock valued at $1,897,000 after purchasing an additional 78 shares during the last quarter. Achmea Investment Management B.V. raised its stake in shares of ServiceNow by 1.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 14,748 shares of the information technology services provider’s stock worth $11,602,000 after buying an additional 276 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of ServiceNow by 4.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 8,027 shares of the information technology services provider’s stock worth $6,315,000 after buying an additional 355 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NOW traded down $25.94 during trading on Friday, reaching $1,023.14. 516,985 shares of the company were exchanged, compared to its average volume of 967,652. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $210.77 billion, a P/E ratio of 159.12, a PEG ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The firm has a 50 day moving average of $1,062.40 and a 200 day moving average of $919.80.

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, beating 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 net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business earned $1.21 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. Robert W. Baird increased their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, Evercore ISI lifted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

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.