Callan Capital LLC Has $1.03 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Callan Capital LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,451 shares of the information technology services provider’s stock after purchasing an additional 56 shares during the quarter. Callan Capital LLC’s holdings in ServiceNow were worth $1,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Sandbox Financial Partners LLC lifted its stake in ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its stake in ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates lifted its stake in ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in ServiceNow by 15.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, 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. In the last quarter, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley increased their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Thursday. Finally, The Goldman Sachs Group increased their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $7.30 during mid-day trading on Friday, hitting $723.55. 1,445,884 shares of the stock were exchanged, compared to its average volume of 1,087,368. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a 50-day simple moving average of $759.21 and a 200 day simple moving average of $707.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company has a market capitalization of $148.60 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.53 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

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.