ServiceNow, Inc. (NYSE:NOW) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,122 shares of the information technology services provider’s stock after purchasing an additional 49,631 shares during the period. Federated Hermes Inc.’s holdings in ServiceNow were worth $212,033,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in ServiceNow during the fourth quarter valued at $872,202,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after buying an additional 854,846 shares during the period. International Assets Investment Management LLC grew its position in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC grew its position in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after acquiring an additional 560,908 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.2 %

Shares of NYSE NOW traded up $1.16 during mid-day trading on Thursday, hitting $737.61. 271,332 shares of the company traded hands, compared to its average volume of 1,164,049. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The stock has a market capitalization of $151.49 billion, a price-to-earnings ratio of 87.79, a PEG ratio of 4.71 and a beta of 0.97. The business has a 50 day moving average of $767.53 and a two-hundred day moving average of $700.42.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. Jefferies Financial Group upped their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays increased their target price on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday. JMP Securities lifted their price objective on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Finally, Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow 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.