Westwood Holdings Group Inc. Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Westwood Holdings Group Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 356 shares of the information technology services provider’s stock, valued at approximately $271,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares in the last quarter. Jennison Associates LLC lifted its stake in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Norges Bank purchased a new stake in ServiceNow in the 4th quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA lifted its stake in 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 worth $1,612,032,000 after purchasing an additional 81,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 2.6 %

NYSE:NOW traded down $20.74 during mid-day trading on Friday, hitting $790.64. 1,568,867 shares of the company’s stock were exchanged, compared to its average volume of 1,722,103. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $747.96 and a 200 day moving average price of $753.82. The company has a market cap of $162.87 billion, a PE ratio of 84.56, a P/E/G ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts predict that ServiceNow, Inc. will post 6.84 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on NOW shares. Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Stifel Nicolaus increased their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Piper Sandler raised their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $842.22.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,330 shares of company stock worth $5,482,012. Corporate insiders own 0.25% of the company’s stock.

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.