HighPoint Advisor Group LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

HighPoint Advisor Group LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,793 shares of the information technology services provider’s stock, valued at approximately $2,938,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Argonautica Private Wealth Management Inc. lifted its holdings in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares in the last quarter. Wealth Management Partners LLC raised its holdings in shares of ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of 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 purchasing an additional 14 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares in the last quarter. Finally, Claro Advisors LLC raised its holdings in shares of ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW stock traded up $4.49 during mid-day trading on Tuesday, hitting $729.99. The stock had a trading volume of 104,797 shares, compared to its average volume of 1,274,774. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The firm has a market cap of $149.65 billion, a PE ratio of 77.58, a PEG ratio of 4.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day simple moving average is $726.49 and its 200-day simple moving average is $737.87.

ServiceNow (NYSE:NOW) last released its 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 net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Robert W. Baird raised their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, UBS Group dropped their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

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.