Savvy Advisors Inc. Purchases 9,150 Shares of ServiceNow, Inc. $NOW

Savvy Advisors Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 1,037.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,032 shares of the information technology services provider’s stock after acquiring an additional 9,150 shares during the quarter. Savvy Advisors Inc.’s holdings in ServiceNow were worth $1,537,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOW. Nordea Investment Management AB lifted its holdings in ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after acquiring an additional 3,743,087 shares during the period. SG Americas Securities LLC increased its position in ServiceNow by 11,128.7% in the fourth quarter. SG Americas Securities LLC now owns 1,805,467 shares of the information technology services provider’s stock worth $276,579,000 after buying an additional 1,789,388 shares in the last quarter. Aberdeen Group plc increased its position in ServiceNow by 405.0% in the fourth quarter. Aberdeen Group plc now owns 1,448,931 shares of the information technology services provider’s stock worth $221,962,000 after buying an additional 1,162,005 shares in the last quarter. Sarasin & Partners LLP increased its position in ServiceNow by 386.2% in the fourth quarter. Sarasin & Partners LLP now owns 1,233,408 shares of the information technology services provider’s stock worth $188,946,000 after buying an additional 979,740 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in ServiceNow by 385.4% in the fourth quarter. Congress Asset Management Co. now owns 847,477 shares of the information technology services provider’s stock worth $129,825,000 after buying an additional 672,898 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $180.00 price target on ServiceNow in a research report on Thursday, January 29th. Wells Fargo & Company reduced their price target on ServiceNow from $225.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Capital One Financial reduced their price target on ServiceNow from $188.00 to $161.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Guggenheim upgraded ServiceNow from a “sell” rating to a “neutral” rating in a research report on Tuesday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $155.00 price target on shares of ServiceNow in a research report on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $188.59.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the transaction, the insider owned 8,061 shares in the company, valued at $820,367.97. This trade represents a 31.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This represents a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $102.46 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48. The stock has a 50-day moving average price of $109.76 and a 200 day moving average price of $146.19. The stock has a market capitalization of $107.17 billion, a P/E ratio of 61.43, a P/E/G ratio of 1.71 and a beta of 1.01.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Company Profile

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.