ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,605 shares of the information technology services provider’s stock after purchasing an additional 1,861 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of ServiceNow worth $72,489,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow in the third quarter worth $28,000. First Capital Advisors Group LLC. purchased a new stake in ServiceNow during the 2nd quarter worth about $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at about $29,000. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Finally, Steward Financial Group LLC grew its position in shares of ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after buying an additional 35 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 in the last ninety days. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $735.81 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The stock’s 50-day moving average is $769.28 and its 200-day moving average is $698.87. The company has a market cap of $151.12 billion, a price-to-earnings ratio of 87.46, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Piper Sandler raised their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Barclays raised their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Mizuho boosted their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $780.00.

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.