Relyea Zuckerberg Hanson LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Relyea Zuckerberg Hanson LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 89.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 832 shares of the information technology services provider’s stock after buying an additional 393 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in ServiceNow were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC increased its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in ServiceNow in the second quarter valued at approximately $39,000. Oakworth Capital Inc. boosted its holdings in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC increased its holdings in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. 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 report on Monday, November 25th. Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald started coverage on ServiceNow in a research note on Friday. They set an “overweight” rating and a $1,332.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $7.66 on Friday, hitting $1,064.82. The company’s stock had a trading volume of 164,945 shares, compared to its average volume of 1,086,289. The company has a market capitalization of $219.35 billion, a P/E ratio of 165.53, a price-to-earnings-growth 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 firm has a fifty day moving average price of $1,067.55 and a 200-day moving average price of $928.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,276 shares of company stock valued at $20,535,115. 0.25% of the stock is owned by corporate insiders.

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.