True North Advisors LLC Invests $319,000 in ServiceNow, Inc. (NYSE:NOW)

True North Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 301 shares of the information technology services provider’s stock, valued at approximately $319,000.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in ServiceNow during the 2nd quarter valued at $39,000. Oakworth Capital Inc. lifted its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, 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 transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Mizuho increased their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,093.34.

ServiceNow Trading Up 2.6 %

Shares of NOW stock opened at $1,125.39 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $1,071.36 and a 200 day moving average of $937.32. The stock has a market capitalization of $231.83 billion, a PE ratio of 175.02, a P/E/G ratio of 4.98 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

ServiceNow (NYSE:NOW) last released 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 firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.04 earnings per share for the current year.

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.