Harbor Capital Advisors Inc. Trims Stake in ServiceNow, Inc. (NYSE:NOW)

Harbor Capital Advisors Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,772 shares of the information technology services provider's stock after selling 1,786 shares during the period. Harbor Capital Advisors Inc.'s holdings in ServiceNow were worth $5,059,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Franklin Street Advisors Inc. NC purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $200,000. Hilltop National Bank grew its stake in ServiceNow by 22.8% in the 4th quarter. Hilltop National Bank now owns 420 shares of the information technology services provider's stock valued at $445,000 after purchasing an additional 78 shares during the period. ORG Partners LLC increased its position in shares of ServiceNow by 15.2% during the 4th quarter. ORG Partners LLC now owns 159 shares of the information technology services provider's stock valued at $169,000 after purchasing an additional 21 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of ServiceNow by 18.8% during the 4th quarter. Fortitude Family Office LLC now owns 95 shares of the information technology services provider's stock worth $101,000 after purchasing an additional 15 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of ServiceNow in the 4th quarter worth about $223,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW traded down $24.82 during trading hours on Friday, reaching $1,024.26. 1,577,226 shares of the stock traded hands, compared to its average volume of 1,151,802. The company has a market capitalization of $211.00 billion, a P/E ratio of 159.29, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company's 50-day simple moving average is $1,064.01 and its two-hundred day simple moving average is $922.94. 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 52-week low of $637.99 and a 52-week high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business posted $1.21 EPS. The business's quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last three months. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOW shares. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Barclays upped their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Evercore ISI boosted their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,071.39.

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.