Aspire Private Capital LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Aspire Private Capital LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 815 shares of the information technology services provider’s stock, valued at approximately $576,000.

Several other hedge funds have also bought and sold shares of the company. Sandbox Financial Partners LLC increased its position in ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. grew its stake in ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after buying an additional 49,631 shares in the last quarter. Raymond James & Associates raised its position in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the period. Finally, Fifth Third Bancorp increased its stake in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after acquiring an additional 3,154 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on NOW shares. Jefferies Financial Group increased their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. JMP Securities raised their price target on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research note on Monday, January 22nd. Oppenheimer increased their price objective on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Royal Bank of Canada upped their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Piper Sandler raised their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $780.37.

ServiceNow Stock Up 1.2 %

Shares of NYSE NOW traded up $8.66 during mid-day trading on Monday, reaching $722.57. 1,464,166 shares of the company’s stock traded hands, compared to its average volume of 1,179,827. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day simple moving average of $764.19 and a 200 day simple moving average of $703.95. The stock has a market cap of $148.40 billion, a P/E ratio of 85.80, a PEG ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) 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 business 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 business earned $0.88 EPS. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the company’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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

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.