Park Avenue Securities LLC Buys 520 Shares of ServiceNow, Inc. (NYSE:NOW)

Park Avenue Securities LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,863 shares of the information technology services provider's stock after purchasing an additional 520 shares during the quarter. Park Avenue Securities LLC's holdings in ServiceNow were worth $10,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Kathmere Capital Management LLC grew its position in ServiceNow by 22.5% during the 4th quarter. Kathmere Capital Management LLC now owns 316 shares of the information technology services provider's stock worth $335,000 after purchasing an additional 58 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of ServiceNow by 131.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 243,888 shares of the information technology services provider's stock worth $258,551,000 after buying an additional 138,403 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of ServiceNow during the fourth quarter valued at $212,000. Fifth Third Wealth Advisors LLC raised its position in ServiceNow by 4.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 1,923 shares of the information technology services provider's stock valued at $2,039,000 after buying an additional 83 shares during the period. Finally, Oak Thistle LLC acquired a new position in ServiceNow during the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NOW traded up $23.70 on Wednesday, hitting $1,054.99. 1,286,426 shares of the stock traded hands, compared to its average volume of 1,242,440. The business has a fifty day moving average price of $1,066.34 and a two-hundred day moving average price of $927.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The firm has a market capitalization of $217.33 billion, a PE ratio of 164.07, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for 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%. The company's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share. On average, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOW shares. Oppenheimer lifted their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Evercore ISI lifted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,071.39.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 76 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock worth $20,535,115 over the last three months. Company insiders own 0.25% of the company's stock.

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.