Carnegie Investment Counsel Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Carnegie Investment Counsel acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 242 shares of the information technology services provider's stock, valued at approximately $257,000.

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

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 10,467 shares of the company's stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Up 1.4 %

Shares of NYSE NOW traded up $14.86 during mid-day trading on Monday, reaching $1,072.02. 1,079,535 shares of the company traded hands, compared to its average volume of 944,889. The company's fifty day moving average is $1,069.67 and its two-hundred day moving average is $933.26. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $220.84 billion, a PE ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 EPS. The business's quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOW shares. JMP Securities boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Canaccord Genuity Group lifted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their price objective 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. Finally, Jefferies Financial Group raised their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,080.38.

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.