Sheets Smith Wealth Management Buys 474 Shares of ServiceNow, Inc. (NYSE:NOW)

Sheets Smith Wealth Management grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,401 shares of the information technology services provider’s stock after acquiring an additional 474 shares during the quarter. Sheets Smith Wealth Management’s holdings in ServiceNow were worth $5,726,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOW. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Bank of Montreal Can boosted its stake in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP raised its position in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC increased its stake in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NOW. JMP Securities boosted their price target on ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. UBS Group lifted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,090.72.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,867 shares of ServiceNow stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.4 %

NYSE:NOW opened at $1,097.53 on Wednesday. The business’s fifty day moving average price is $1,070.37 and its 200 day moving average price is $935.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The firm 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.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.06 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.