Avanza Fonder AB Takes Position in ServiceNow, Inc. (NYSE:NOW)

Avanza Fonder AB bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,011 shares of the information technology services provider’s stock, valued at approximately $14,853,000.

Other large investors also recently bought and sold shares of the company. Polymer Capital Management HK LTD raised its position in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after purchasing an additional 981 shares during the last quarter. AXA S.A. boosted its holdings in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC grew its holdings in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after purchasing an additional 2,829 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore ISI upped their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Citigroup raised their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays raised their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Stock Up 0.9 %

NOW stock opened at $1,066.20 on Friday. The company’s 50 day simple moving average is $1,067.55 and its 200-day simple moving average is $928.41. The firm has a market capitalization of $219.64 billion, a P/E ratio of 166.03, a P/E/G ratio of 4.65 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 company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company earned $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,276 shares of company stock worth $20,535,115. Company insiders own 0.25% of the company’s stock.

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.