Palumbo Wealth Management LLC Acquires Shares of 294 ServiceNow, Inc. (NYSE:NOW)

Palumbo Wealth Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 294 shares of the information technology services provider’s stock, valued at approximately $208,000.

A number of other hedge funds have also bought and sold shares of NOW. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter valued at $28,000. First Capital Advisors Group LLC. bought a new stake in shares of ServiceNow in the second quarter valued at $29,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the first quarter valued at $29,000. AdvisorNet Financial Inc raised its stake in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Finally, Steward Financial Group LLC grew its position in shares of ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last 90 days. Insiders own 0.28% of the company’s stock.

ServiceNow Stock Up 0.8 %

NOW stock opened at $768.31 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The business’s 50 day moving average price is $770.51 and its two-hundred day moving average price is $684.36. 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 has a market capitalization of $157.50 billion, a price-to-earnings ratio of 91.36, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97.

ServiceNow (NYSE:NOWGet Free Report) last posted its 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. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOW shares. Oppenheimer lifted their price target on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC boosted their target price on ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada boosted their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Truist Financial boosted their target price on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $762.96.

Get Our Latest Research Report on NOW

ServiceNow Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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