SlateStone Wealth LLC Acquires New Holdings in ServiceNow, Inc. (NYSE:NOW)

SlateStone Wealth LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 369 shares of the information technology services provider’s stock, valued at approximately $261,000.

Several other hedge funds have also recently bought and sold shares of the company. Aspire Private Capital LLC bought a new stake in ServiceNow in the 4th quarter valued at about $576,000. RWA Wealth Partners LLC lifted its position in ServiceNow by 170.8% in the 4th quarter. RWA Wealth Partners LLC now owns 9,178 shares of the information technology services provider’s stock valued at $6,484,000 after purchasing an additional 5,789 shares during the last quarter. Armbruster Capital Management Inc. bought a new stake in ServiceNow in the 4th quarter valued at about $224,000. Jennison Associates LLC lifted its position in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Finally, Sepio Capital LP lifted its position in ServiceNow by 7.8% in the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after purchasing an additional 85 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 2.9 %

NOW traded up $21.13 on Tuesday, reaching $743.08. 674,830 shares of the company traded hands, compared to its average volume of 1,173,015. The stock’s 50 day moving average price is $762.90 and its 200-day moving average price is $705.19. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a market cap of $152.61 billion, a price-to-earnings ratio of 88.00, a PEG ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target 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. UBS Group boosted their price target on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Piper Sandler boosted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. BMO Capital Markets boosted their price target on shares of ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $780.37.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. Corporate insiders own 0.25% of the company’s stock.

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.