Crestwood Advisors Group LLC Has $11.44 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Crestwood Advisors Group LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,795 shares of the information technology services provider’s stock after purchasing an additional 241 shares during the quarter. Crestwood Advisors Group LLC’s holdings in ServiceNow were worth $11,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Silver Oak Securities Incorporated lifted its holdings in ServiceNow by 25.6% during the 3rd quarter. Silver Oak Securities Incorporated now owns 632 shares of the information technology services provider’s stock valued at $554,000 after purchasing an additional 129 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of ServiceNow by 1.5% in the 3rd quarter. Allworth Financial LP now owns 1,113 shares of the information technology services provider’s stock worth $996,000 after acquiring an additional 16 shares in the last quarter. Arkadios Wealth Advisors grew its position in ServiceNow by 30.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,642 shares of the information technology services provider’s stock worth $2,363,000 after acquiring an additional 614 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in ServiceNow by 2.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,080 shares of the information technology services provider’s stock valued at $966,000 after purchasing an additional 23 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in ServiceNow by 41.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock valued at $810,000 after purchasing an additional 267 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,264 shares of company stock worth $13,358,909. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Raymond James initiated coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Down 3.1 %

Shares of NOW opened at $937.79 on Monday. The firm’s 50-day simple moving average is $1,054.69 and its 200 day simple moving average is $979.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $193.18 billion, a P/E ratio of 137.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.