CWA Asset Management Group LLC Has $3.82 Million Stake in ServiceNow, Inc. (NYSE:NOW)

CWA Asset Management Group LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,605 shares of the information technology services provider’s stock after purchasing an additional 113 shares during the quarter. CWA Asset Management Group LLC’s holdings in ServiceNow were worth $3,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in shares of ServiceNow by 58.5% during the second quarter. Private Advisor Group LLC now owns 13,471 shares of the information technology services provider’s stock valued at $10,598,000 after purchasing an additional 4,972 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in ServiceNow by 698.2% during the 2nd quarter. Great Lakes Advisors LLC now owns 5,835 shares of the information technology services provider’s stock worth $4,590,000 after acquiring an additional 5,104 shares during the last quarter. Umpqua Bank raised its stake in shares of ServiceNow by 3.9% during the second quarter. Umpqua Bank now owns 2,847 shares of the information technology services provider’s stock valued at $2,240,000 after acquiring an additional 108 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of ServiceNow during the second quarter worth $67,000. Finally, Asset Dedication LLC grew its stake in shares of ServiceNow by 2.3% in the second quarter. Asset Dedication LLC now owns 3,069 shares of the information technology services provider’s stock worth $2,414,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock traded up $7.17 during trading hours on Monday, hitting $1,080.94. 220,331 shares of the company were exchanged, compared to its average volume of 708,141. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $1,053.53 and a 200 day simple moving average of $913.45. The stock has a market capitalization of $222.67 billion, a price-to-earnings ratio of 168.11, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its 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 return on equity of 16.03% and a net margin of 12.77%. During the same period in the previous year, the company posted $1.21 earnings per share. The business’s revenue was up 22.2% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. Jefferies Financial Group raised their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. TD Cowen upped their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Stifel Nicolaus raised their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,053.89.

ServiceNow 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.