660 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by FNY Investment Advisers LLC

FNY Investment Advisers LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 660 shares of the information technology services provider’s stock, valued at approximately $699,000.

Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth about $30,000. DT Investment Partners LLC increased its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow during the second quarter worth approximately $39,000. Oakworth Capital Inc. boosted its position in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW opened at $1,012.47 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $208.57 billion, a P/E ratio of 157.46, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company’s 50 day simple moving average is $1,065.17 and its 200-day simple moving average is $925.81. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOW. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup boosted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Oppenheimer lifted their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Piper Sandler lifted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,071.39.

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.