Abbrea Capital LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Abbrea Capital LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,480 shares of the information technology services provider’s stock after purchasing an additional 60 shares during the quarter. Abbrea Capital LLC’s holdings in ServiceNow were worth $1,046,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Syon Capital LLC increased its stake in shares of ServiceNow by 51.7% during the 4th quarter. Syon Capital LLC now owns 810 shares of the information technology services provider’s stock worth $572,000 after purchasing an additional 276 shares in the last quarter. Cross Staff Investments Inc grew its holdings in ServiceNow by 10.0% during the 4th quarter. Cross Staff Investments Inc now owns 550 shares of the information technology services provider’s stock valued at $389,000 after buying an additional 50 shares during the last quarter. Disciplined Equity Management Inc. purchased a new position in ServiceNow during the fourth quarter worth $35,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of ServiceNow by 6.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,862 shares of the information technology services provider’s stock worth $3,435,000 after acquiring an additional 286 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of ServiceNow by 8.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,237 shares of the information technology services provider’s stock valued at $1,582,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 4.0 %

Shares of NOW stock traded down $30.04 during trading hours on Thursday, hitting $716.25. 3,369,434 shares of the company were exchanged, compared to its average volume of 1,213,588. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $147.10 billion, a price-to-earnings ratio of 84.27, a P/E/G ratio of 4.68 and a beta of 0.97. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The business’s 50-day simple moving average is $761.32 and its two-hundred day simple moving average is $706.74.

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

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at $776,373.64. 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. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $782.85.

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.