Coldstream Capital Management Inc. Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Coldstream Capital Management Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOWFree Report) by 27.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,221 shares of the information technology services provider’s stock after buying an additional 699 shares during the period. Coldstream Capital Management Inc.’s holdings in ServiceNow were worth $2,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC grew its position in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC raised its stake in ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,504 shares of company stock valued at $7,860,589. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada raised their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $808.73.

Read Our Latest Research Report on ServiceNow

ServiceNow Trading Up 0.9 %

NOW traded up $7.21 during midday trading on Monday, hitting $772.26. The company’s stock had a trading volume of 345,174 shares, compared to its average volume of 1,204,412. ServiceNow, Inc. has a 52-week low of $494.13 and a 52-week high of $815.32. The firm has a 50-day moving average price of $747.66 and a two-hundred day moving average price of $727.64. The firm has a market cap of $158.31 billion, a P/E ratio of 82.25, a PEG ratio of 4.80 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, research analysts anticipate that ServiceNow, Inc. will post 6.49 earnings per share for the current year.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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