ServiceNow, Inc. (NYSE:NOW) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 11.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,424 shares of the information technology services provider’s stock after acquiring an additional 789 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ServiceNow were worth $7,870,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD lifted its holdings in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the period. AXA S.A. lifted its stake in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $2,679,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,276 shares of company stock worth $20,535,115. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. JMP Securities lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Truist Financial raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,071.39.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,056.31 on Thursday. The firm has a market cap of $217.60 billion, a P/E ratio of 164.28, a PEG ratio of 4.65 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. The stock’s 50-day moving average is $1,066.34 and its two-hundred day moving average is $927.52.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for 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 company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.