HWG Holdings LP Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

HWG Holdings LP grew its stake in ServiceNow, Inc. (NYSE:NOW) by 58.2% during the third quarter, HoldingsChannel reports. The firm owned 5,388 shares of the information technology services provider’s stock after purchasing an additional 1,983 shares during the quarter. ServiceNow comprises approximately 1.7% of HWG Holdings LP’s portfolio, making the stock its 19th biggest holding. HWG Holdings LP’s holdings in ServiceNow were worth $4,819,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

ServiceNow stock opened at $962.00 on Friday. The stock has a fifty day moving average price of $880.60 and a 200 day moving average price of $795.09. ServiceNow, Inc. has a 52 week low of $548.44 and a 52 week high of $979.78. The firm has a market capitalization of $198.17 billion, a P/E ratio of 172.95, a PEG ratio of 5.04 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted 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. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday. Guggenheim reiterated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Robert W. Baird boosted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday. Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday. Finally, TD Cowen boosted their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

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.