ServiceNow, Inc. (NYSE:NOW) Stake Raised by West Oak Capital LLC

West Oak Capital LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402 shares of the information technology services provider’s stock after purchasing an additional 25 shares during the period. West Oak Capital LLC’s holdings in ServiceNow were worth $293,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PFG Private Wealth Management LLC acquired a new position in ServiceNow in the 3rd quarter worth about $28,000. First Capital Advisors Group LLC. bought a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $29,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the first quarter worth approximately $29,000. Steward Financial Group LLC raised its position in ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NOW shares. Needham & Company LLC raised their price target on shares of ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada boosted their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. KeyCorp started coverage on ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective on the stock. Citigroup raised their price objective on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $762.96.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last three months. Company insiders own 0.24% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock traded up $5.53 during mid-day trading on Thursday, reaching $764.53. The company’s stock had a trading volume of 269,138 shares, compared to its average volume of 1,221,311. The company has a market cap of $156.73 billion, a P/E ratio of 90.67, a PEG ratio of 4.96 and a beta of 0.97. The firm’s 50-day moving average is $768.99 and its two-hundred day moving average is $679.61. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

About ServiceNow

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.