HighPoint Advisor Group LLC Purchases New Stake in ServiceNow, Inc. (NYSE:NOW)

HighPoint Advisor Group LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,793 shares of the information technology services provider’s stock, valued at approximately $2,938,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised 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 acquiring an additional 122,577 shares in the last quarter. Jennison Associates LLC raised its holdings in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank bought a new stake in ServiceNow during the fourth quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA increased its stake in ServiceNow by 3.7% during 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 purchasing an additional 81,028 shares during the last quarter. Finally, Northern Trust Corp increased its stake in ServiceNow by 1.8% during the third quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock valued at $1,230,994,000 after purchasing an additional 39,259 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

NYSE NOW traded up $4.49 on Tuesday, reaching $729.99. The company’s stock had a trading volume of 104,797 shares, compared to its average volume of 1,274,774. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $149.65 billion, a PE ratio of 77.58, a PEG ratio of 4.57 and a beta of 0.96. The firm’s 50 day moving average is $726.49 and its two-hundred day moving average is $737.87.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. In the last three months, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. UBS Group lowered their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Morgan Stanley boosted their target price on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, 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 report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $814.48.

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.