Fiduciary Financial Group LLC Buys Shares of 4,067 ServiceNow, Inc. $NOW

Fiduciary Financial Group LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel reports. The fund bought 4,067 shares of the information technology services provider’s stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Millstone Evans Group LLC raised its position in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC raised its holdings in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC lifted its stake in ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Performance

NYSE NOW opened at $124.76 on Thursday. The firm has a market cap of $129.00 billion, a P/E ratio of 77.97, a P/E/G ratio of 2.24 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The business’s 50-day moving average price is $106.70 and its 200 day moving average price is $105.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NOW. Robert W. Baird boosted their price target on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Oppenheimer reissued an “outperform” rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.76.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.