HBW Advisory Services LLC Boosts Stock Holdings in ServiceNow, Inc. $NOW

HBW Advisory Services LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,445 shares of the information technology services provider’s stock after purchasing an additional 6,264 shares during the quarter. HBW Advisory Services LLC’s holdings in ServiceNow were worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 3.4%

NOW opened at $111.32 on Tuesday. The firm’s 50 day moving average is $102.95 and its 200-day moving average is $110.65. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $114.77 billion, a P/E ratio of 66.34, a P/E/G ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NOW shares. Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, July 1st. Evercore boosted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Cantor Fitzgerald set a $130.00 price objective on shares of ServiceNow in a research report on Monday, June 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of ServiceNow in a research note on Monday, June 29th. Finally, Wells Fargo & Company reduced their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $141.47.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by insiders.

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.