Overbrook Management Corp Has $9.17 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Overbrook Management Corp decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,654 shares of the information technology services provider's stock after selling 2,189 shares during the quarter. ServiceNow comprises approximately 2.0% of Overbrook Management Corp's holdings, making the stock its 20th largest position. Overbrook Management Corp's holdings in ServiceNow were worth $9,174,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company's stock.

ServiceNow Trading Up 1.4 %

Shares of NOW traded up $14.86 during trading hours on Monday, reaching $1,072.02. The stock had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. The company has a market cap 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. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $1,069.67 and a 200 day moving average of $933.26.

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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NOW. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Mizuho lifted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. TD Cowen increased their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets lifted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. One investment 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.