Headlands Technologies LLC Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Headlands Technologies LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 434 shares of the information technology services provider’s stock, valued at approximately $307,000.

A number of other hedge funds have also bought and sold shares of the business. Argonautica Private Wealth Management Inc. grew its stake in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares in the last quarter. Wealth Management Partners LLC grew its position in shares of ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in shares of ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares in the last quarter. Trust Co. of Vermont grew its position in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares in the last quarter. Finally, Claro Advisors LLC grew its position in shares of ServiceNow by 3.6% during the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Citigroup boosted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Truist Financial boosted their price target on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Morgan Stanley upped their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $792.00.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $723.55 on Friday. The company has a market cap of $148.60 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. The company has a 50-day moving average price of $759.21 and a 200-day moving average price of $708.95. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Activity

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.25% of the company’s stock.

ServiceNow Company 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.