Roman Butler Fullerton & Co. Acquires New Position in ServiceNow, Inc. (NYSE:NOW)

Roman Butler Fullerton & Co. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,079 shares of the information technology services provider’s stock, valued at approximately $1,600,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of ServiceNow by 82.9% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 470 shares of the information technology services provider’s stock worth $332,000 after buying an additional 213 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong grew its holdings in ServiceNow by 1,455.0% in the fourth quarter. CloudAlpha Capital Management Limited Hong Kong now owns 15,550 shares of the information technology services provider’s stock valued at $10,986,000 after purchasing an additional 14,550 shares during the period. Telos Capital Management Inc. grew its holdings in ServiceNow by 6.0% in the fourth quarter. Telos Capital Management Inc. now owns 4,860 shares of the information technology services provider’s stock valued at $3,434,000 after purchasing an additional 275 shares during the period. KLCM Advisors Inc. purchased a new stake in ServiceNow in the fourth quarter valued at approximately $1,306,000. Finally, Rakuten Securities Inc. acquired a new position in ServiceNow during the fourth quarter valued at approximately $169,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $3.66 on Thursday, reaching $732.79. 130,842 shares of the company were exchanged, compared to its average volume of 1,161,891. 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 company’s 50-day moving average is $767.53 and its two-hundred day moving average is $700.42. The firm has a market cap of $150.50 billion, a price-to-earnings ratio of 87.48, a P/E/G ratio of 4.71 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOW. The Goldman Sachs Group lifted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp began coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. UBS Group lifted their price target on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Tuesday. Finally, BMO Capital Markets boosted their price target on ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $780.00.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction 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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.