Fragasso Financial Advisors Inc Takes $245,000 Position in ServiceNow, Inc. (NYSE:NOW)

Fragasso Financial Advisors Inc acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 231 shares of the information technology services provider’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of ServiceNow during the 3rd quarter valued at $30,000. DT Investment Partners LLC increased its position 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 valued at $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $39,000. Finally, Dunhill Financial LLC increased its position in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NOW shares. Mizuho boosted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus raised their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Oppenheimer lifted their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’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 owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $1,012.47 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company’s 50-day moving average price is $1,065.17 and its 200-day moving average price is $925.81. The company has a market cap of $208.57 billion, a PE ratio of 157.46, a price-to-earnings-growth ratio of 6.43 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts forecast 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.