ServiceNow, Inc. (NYSE:NOW) Shares Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,241 shares of the information technology services provider's stock after acquiring an additional 639 shares during the period. ServiceNow makes up about 0.9% of Oak Ridge Investments LLC's investment portfolio, making the stock its 23rd biggest position. Oak Ridge Investments LLC's holdings in ServiceNow were worth $11,917,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the third quarter valued at $30,000. DT Investment Partners LLC increased its holdings in ServiceNow by 77.3% during the 3rd 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 in the last quarter. Semmax Financial Advisors Inc. acquired a new position in ServiceNow during the second quarter worth about $39,000. Oakworth Capital Inc. lifted its holdings in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC grew its position 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 purchasing an additional 21 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.4 %

Shares of NYSE NOW traded up $14.86 on Friday, hitting $1,072.02. The company had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. The firm has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a PEG 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business has a 50 day moving average of $1,069.67 and a two-hundred day moving average of $932.23.

ServiceNow (NYSE:NOW - Get Free Report) 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 the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during 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%. ServiceNow's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the 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 transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. 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 quarter. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Oppenheimer upped 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. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Piper Sandler upped their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,080.38.

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.