HB Wealth Management LLC Has $4.64 Million Stake in ServiceNow, Inc. (NYSE:NOW)

HB Wealth Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,377 shares of the information technology services provider's stock after acquiring an additional 261 shares during the quarter. HB Wealth Management LLC's holdings in ServiceNow were worth $4,641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont grew its position in shares of ServiceNow by 133.6% during the fourth quarter. Trust Co. of Vermont now owns 1,091 shares of the information technology services provider's stock worth $1,157,000 after buying an additional 624 shares in the last quarter. Cherrydale Wealth Management LLC acquired a new position in ServiceNow during the 4th quarter worth $200,000. Integrated Investment Consultants LLC increased its position in shares of ServiceNow by 3.8% in the 4th quarter. Integrated Investment Consultants LLC now owns 439 shares of the information technology services provider's stock worth $465,000 after purchasing an additional 16 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of ServiceNow by 15.4% in the 4th quarter. Arkadios Wealth Advisors now owns 3,050 shares of the information technology services provider's stock valued at $3,234,000 after purchasing an additional 408 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of ServiceNow during the fourth quarter worth about $212,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

ServiceNow stock traded up $14.86 during mid-day trading on Friday, hitting $1,072.02. The company's stock had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The stock's fifty day moving average price is $1,069.67 and its two-hundred day moving average price is $932.23. The stock has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. 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 (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, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during 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%. ServiceNow's 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. Research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on NOW shares. Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Royal Bank of Canada raised their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Cantor Fitzgerald began coverage on shares of ServiceNow in a research note on Friday. They set an "overweight" rating and a $1,332.00 target price for the company. Truist Financial raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Finally, Robert W. Baird increased their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,080.38.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,867 shares of ServiceNow stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares in the company, valued at $7,007,026.71. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value 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. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last 90 days. 0.25% of the stock is owned by company insiders.

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.