357 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Genesis Private Wealth LLC

Genesis Private Wealth LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 357 shares of the information technology services provider’s stock, valued at approximately $378,000.

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

Analyst Ratings Changes

NOW has been the topic of several research reports. Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays boosted their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,090.72.

Insiders Place Their Bets

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.4 %

Shares of NYSE NOW opened at $1,097.53 on Wednesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90. The firm has a 50-day simple moving average of $1,070.37 and a two-hundred day simple moving average of $935.27. The company has a market cap of $226.09 billion, a P/E ratio of 170.69, a PEG ratio of 4.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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 the consensus estimate of $3.46 by $0.26. The business 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 business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share 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.