Twin Capital Management Inc. Sells 66 Shares of ServiceNow, Inc. (NYSE:NOW)

Twin Capital Management Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,934 shares of the information technology services provider’s stock after selling 66 shares during the quarter. Twin Capital Management Inc.’s holdings in ServiceNow were worth $2,073,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NOW. Norges Bank purchased a new position in ServiceNow during the fourth quarter valued at approximately $872,202,000. Moneta Group Investment Advisors LLC increased its stake in ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after purchasing an additional 854,846 shares during the period. International Assets Investment Management LLC increased its position in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the last quarter. FMR LLC increased its holdings in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 129.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after purchasing an additional 560,908 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. KeyCorp assumed coverage on ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective for the company. Barclays upped their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Truist Financial upped their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. UBS Group raised their target price on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

ServiceNow Trading Down 0.7 %

NYSE NOW opened at $731.47 on Friday. 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 stock’s 50 day moving average price is $766.17 and its two-hundred day moving average price is $700.64. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The stock has a market capitalization of $150.23 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.65 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.