Hennion & Walsh Asset Management Inc. Purchases 789 Shares of ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,424 shares of the information technology services provider's stock after purchasing an additional 789 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in ServiceNow were worth $7,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. boosted its position in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after buying an additional 10 shares during the last quarter. Catalyst Financial Partners LLC increased its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock worth $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network raised its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock valued at $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC boosted its stake in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 0.3 %

Shares of NYSE:NOW traded up $3.07 during trading on Thursday, hitting $1,057.20. 632,087 shares of the company were exchanged, compared to its average volume of 1,181,517. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The stock has a market cap of $217.78 billion, a price-to-earnings ratio of 164.42, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $1,067.55 and a two-hundred day moving average price of $928.41.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping 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 net margin of 12.77% and a return on equity of 16.03%. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock valued at $20,535,115 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. JMP Securities raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a "market outperform" rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group upped their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a "buy" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,071.39.

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.