Parisi Gray Wealth Management Has $348,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Parisi Gray Wealth Management raised its position in ServiceNow, Inc. (NYSE:NOW) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328 shares of the information technology services provider’s stock after purchasing an additional 19 shares during the period. Parisi Gray Wealth Management’s holdings in ServiceNow were worth $348,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its holdings in ServiceNow by 13.7% during the second quarter. Oppenheimer & Co. Inc. now owns 6,751 shares of the information technology services provider’s stock worth $5,311,000 after buying an additional 812 shares during the last quarter. CoreCap Advisors LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $434,000. Fiduciary Group LLC acquired a new stake in ServiceNow during the second quarter worth approximately $601,000. Parallel Advisors LLC boosted its holdings in shares of ServiceNow by 1.2% during the second quarter. Parallel Advisors LLC now owns 4,693 shares of the information technology services provider’s stock worth $3,691,000 after acquiring an additional 54 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its holdings in ServiceNow by 28.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,241 shares of the information technology services provider’s stock worth $2,549,000 after purchasing an additional 724 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 1.2 %

ServiceNow stock traded down $12.10 during trading hours on Monday, hitting $1,012.47. 1,710,183 shares of the stock traded hands, compared to its average volume of 1,231,130. The company has a market cap of $208.57 billion, a PE ratio of 157.46, a PEG ratio of 6.43 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $1,064.01 and its two-hundred day moving average price is $924.13. 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 (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NOW shares. Mizuho raised their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Evercore ISI raised their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Piper Sandler boosted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average 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.