Franklin Street Advisors Inc. NC Invests $200,000 in ServiceNow, Inc. (NYSE:NOW)

Franklin Street Advisors Inc. NC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel reports. The firm bought 189 shares of the information technology services provider’s stock, valued at approximately $200,000.

A number of other hedge funds have also made changes to their positions in NOW. Hilltop National Bank increased its stake in ServiceNow by 22.8% in the 4th quarter. Hilltop National Bank now owns 420 shares of the information technology services provider’s stock valued at $445,000 after buying an additional 78 shares during the period. ORG Partners LLC lifted its stake in ServiceNow by 15.2% in the fourth quarter. ORG Partners LLC now owns 159 shares of the information technology services provider’s stock valued at $169,000 after acquiring an additional 21 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of ServiceNow by 18.8% in the 4th quarter. Fortitude Family Office LLC now owns 95 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 15 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new stake in ServiceNow in the fourth quarter worth $223,000. Finally, First Hawaiian Bank raised its holdings in ServiceNow by 53.4% during the fourth quarter. First Hawaiian Bank now owns 3,541 shares of the information technology services provider’s stock valued at $3,754,000 after buying an additional 1,233 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Truist Financial increased their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Raymond James initiated coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,071.39.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock valued at $20,861,626 over the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $25.94 during midday trading on Friday, reaching $1,023.14. The company’s stock had a trading volume of 516,985 shares, compared to its average volume of 967,652. The business’s fifty day simple moving average is $1,062.40 and its 200-day simple moving average is $919.80. The company has a market capitalization of $210.77 billion, a P/E ratio of 159.12, a P/E/G ratio of 6.43 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, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal 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.