Pure Financial Advisors LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Pure Financial Advisors LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 784 shares of the information technology services provider’s stock after acquiring an additional 62 shares during the quarter. Pure Financial Advisors LLC’s holdings in ServiceNow were worth $831,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC lifted its position in shares of ServiceNow by 4.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 392 shares of the information technology services provider’s stock worth $416,000 after purchasing an additional 15 shares during the period. Koshinski Asset Management Inc. lifted its holdings in ServiceNow by 14.2% during the fourth quarter. Koshinski Asset Management Inc. now owns 3,367 shares of the information technology services provider’s stock worth $3,569,000 after buying an additional 419 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in ServiceNow by 7.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,517 shares of the information technology services provider’s stock valued at $12,209,000 after acquiring an additional 825 shares in the last quarter. Bremer Bank National Association purchased a new position in shares of ServiceNow in the 4th quarter valued at $213,000. Finally, Thrive Wealth Management LLC raised its position in shares of ServiceNow by 4.5% in the 4th quarter. Thrive Wealth Management LLC now owns 416 shares of the information technology services provider’s stock worth $441,000 after acquiring an additional 18 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NOW. TD Cowen raised their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Mizuho increased their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.72.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,097.53 on Wednesday. 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 $226.09 billion, a price-to-earnings ratio of 170.69, a PEG ratio of 4.85 and a beta of 0.99. The firm’s 50 day simple moving average is $1,070.37 and its 200-day simple moving average is $935.27. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

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.