Boltwood Capital Management Makes New $219,000 Investment in ServiceNow, Inc. (NYSE:NOW)

Boltwood Capital Management purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 207 shares of the information technology services provider’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its holdings in shares of ServiceNow by 3.2% during the fourth quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider’s stock valued at $3,821,000 after buying an additional 113 shares in the last quarter. Nordea Investment Management AB boosted its position in ServiceNow by 15.7% during the 4th quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider’s stock worth $633,461,000 after acquiring an additional 81,180 shares during the period. Everence Capital Management Inc. grew its stake in ServiceNow by 0.3% during the 4th quarter. Everence Capital Management Inc. now owns 6,313 shares of the information technology services provider’s stock valued at $6,693,000 after acquiring an additional 20 shares in the last quarter. Franchise Capital Ltd acquired a new position in shares of ServiceNow in the 4th quarter valued at about $3,615,000. Finally, GAMMA Investing LLC lifted its position in shares of ServiceNow by 15.5% in the fourth quarter. GAMMA Investing LLC now owns 3,070 shares of the information technology services provider’s stock worth $3,255,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $5.97 during trading on Monday, hitting $1,079.74. 241,684 shares of the stock were exchanged, compared to its average volume of 717,656. The company has a market capitalization of $222.43 billion, a price-to-earnings ratio of 167.92, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company’s fifty day simple moving average is $1,053.53 and its 200-day simple moving average is $913.45.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC boosted their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group raised their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,053.89.

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.