Onyx Bridge Wealth Group LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Onyx Bridge Wealth Group LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 547 shares of the information technology services provider’s stock, valued at approximately $386,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $872,202,000. Moneta Group Investment Advisors LLC lifted its holdings in ServiceNow by 69,897.5% during 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 buying an additional 854,846 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares in the last quarter. FMR LLC lifted 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 buying an additional 595,697 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 129.4% during 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 buying an additional 560,908 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW traded down $17.45 during midday trading on Friday, hitting $713.91. The company had a trading volume of 1,540,609 shares, compared to its average volume of 874,337. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The business has a 50-day simple moving average of $764.19 and a two-hundred day simple moving average of $701.74. The firm has a market capitalization of $146.62 billion, a price-to-earnings ratio of 84.89, a price-to-earnings-growth ratio of 4.62 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOW shares. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 price objective on shares of ServiceNow in a report on Wednesday, March 20th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Citigroup raised their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday. Finally, Oppenheimer raised their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

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.