Marino Stram & Associates LLC Purchases 39 Shares of ServiceNow, Inc. (NYSE:NOW)

Marino Stram & Associates LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 14.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 316 shares of the information technology services provider’s stock after acquiring an additional 39 shares during the period. Marino Stram & Associates LLC’s holdings in ServiceNow were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnus Financial Group LLC raised its position in ServiceNow by 6.0% during the fourth quarter. Magnus Financial Group LLC now owns 513 shares of the information technology services provider’s stock valued at $544,000 after purchasing an additional 29 shares during the period. Advisory Alpha LLC raised its position in ServiceNow by 7.3% during the fourth quarter. Advisory Alpha LLC now owns 250 shares of the information technology services provider’s stock valued at $265,000 after purchasing an additional 17 shares during the period. West Branch Capital LLC raised its position in ServiceNow by 286.1% during the fourth quarter. West Branch Capital LLC now owns 417 shares of the information technology services provider’s stock valued at $442,000 after purchasing an additional 309 shares during the period. Braun Bostich & Associates Inc. purchased a new stake in ServiceNow during the fourth quarter valued at approximately $216,000. Finally, XML Financial LLC purchased a new stake in ServiceNow during the fourth quarter valued at approximately $239,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler upped their price objective 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. Mizuho increased their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald began coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Finally, StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 2.6 %

ServiceNow stock opened at $1,125.39 on Thursday. 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 stock has a market capitalization of $231.83 billion, a price-to-earnings ratio of 175.02, a PEG ratio of 4.98 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The business has a fifty day moving average price of $1,071.36 and a 200-day moving average price of $937.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 7.04 EPS for the current fiscal year.

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.