Hennion & Walsh Asset Management Inc. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,424 shares of the information technology services provider’s stock after acquiring an additional 789 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ServiceNow were worth $7,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOW. State Street Corp raised its position in ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after buying an additional 226,023 shares during the last quarter. FMR LLC grew its position in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC raised its stake in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP grew its holdings in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated 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 directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,276 shares of company stock worth $20,535,115. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,056.31 on Thursday. The stock’s 50-day moving average is $1,066.34 and its two-hundred day moving average is $927.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $217.60 billion, a price-to-earnings ratio of 164.28, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 EPS. Analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NOW shares. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Raymond James initiated coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

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.