Linden Thomas Advisory Services LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Linden Thomas Advisory Services LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 17.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,813 shares of the information technology services provider’s stock after purchasing an additional 264 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ServiceNow were worth $1,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of NOW. Summit Global Investments bought a new position in ServiceNow in the 3rd quarter worth about $209,000. Capital Investment Advisors LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth approximately $459,000. Impact Partnership Wealth LLC lifted its stake in shares of ServiceNow by 672.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 74 shares during the period. Caprock Group LLC lifted its stake in shares of ServiceNow by 1.0% in the 3rd quarter. Caprock Group LLC now owns 2,693 shares of the information technology services provider’s stock worth $1,505,000 after acquiring an additional 27 shares during the period. Finally, Galvin Gaustad & Stein LLC lifted its stake in shares of ServiceNow by 33.3% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock worth $447,000 after acquiring an additional 200 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $746.39 on Thursday. The firm has a market capitalization of $153.29 billion, a PE ratio of 88.75, a PEG ratio of 4.68 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $761.32 and its 200 day simple moving average is $706.74. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NOW shares. KeyCorp started coverage on shares of ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target for the company. Wells Fargo & Company upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Piper Sandler increased their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Jefferies Financial Group increased their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $779.63.

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.