Cascade Investment Group Inc. Acquires 82 Shares of ServiceNow, Inc. (NYSE:NOW)

Cascade Investment Group Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 25.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400 shares of the information technology services provider’s stock after acquiring an additional 82 shares during the period. Cascade Investment Group Inc.’s holdings in ServiceNow were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of ServiceNow by 7.6% during the second quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock worth $5,025,000 after acquiring an additional 450 shares during the period. AE Wealth Management LLC grew its holdings in ServiceNow by 38.5% in the 2nd quarter. AE Wealth Management LLC now owns 6,774 shares of the information technology services provider’s stock valued at $5,329,000 after buying an additional 1,882 shares in the last quarter. Summit Trail Advisors LLC increased its position in ServiceNow by 22.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,977 shares of the information technology services provider’s stock worth $1,555,000 after buying an additional 357 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of ServiceNow by 5.8% during the second quarter. Legacy Financial Advisors Inc. now owns 824 shares of the information technology services provider’s stock worth $648,000 after buying an additional 45 shares in the last quarter. Finally, Yarra Square Partners LP boosted its position in shares of ServiceNow by 6.7% in the second quarter. Yarra Square Partners LP now owns 6,878 shares of the information technology services provider’s stock valued at $5,411,000 after acquiring an additional 430 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of ServiceNow in a research note on Friday. They issued an “overweight” rating and a $1,332.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Canaccord Genuity Group raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Raymond James assumed coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Stock Up 1.4 %

NYSE:NOW opened at $1,072.02 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $220.84 billion, a PE ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99. The firm’s 50 day simple moving average is $1,069.67 and its 200 day simple moving average is $932.23.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company 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%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.