ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,233 shares of the information technology services provider’s stock after acquiring an additional 248 shares during the period. Atomi Financial Group Inc.’s holdings in ServiceNow were worth $2,368,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NOW. Profund Advisors LLC lifted its position in ServiceNow by 6.5% during the second quarter. Profund Advisors LLC now owns 4,349 shares of the information technology services provider’s stock valued at $3,421,000 after buying an additional 267 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of ServiceNow by 6.9% during the 2nd quarter. ProShare Advisors LLC now owns 39,115 shares of the information technology services provider’s stock valued at $30,771,000 after buying an additional 2,517 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of ServiceNow by 5.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider’s stock valued at $664,000 after purchasing an additional 45 shares in the last quarter. Harmony Asset Management LLC bought a new position in ServiceNow during the 2nd quarter worth approximately $393,000. Finally, Nippon Life Global Investors Americas Inc. boosted its holdings in ServiceNow by 8.5% in the second quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock worth $57,018,000 after purchasing an additional 5,690 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

NOW opened at $1,072.02 on Tuesday. The stock has a fifty day moving average price of $1,070.37 and a 200 day moving average price of $935.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The stock has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Analysts forecast that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NOW shares. Jefferies Financial Group raised their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,080.38.

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.