Annex Advisory Services LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Annex Advisory Services LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,947 shares of the information technology services provider’s stock after acquiring an additional 3,471 shares during the quarter. Annex Advisory Services LLC’s holdings in ServiceNow were worth $23,266,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Oakworth Capital Inc. increased its holdings in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of ServiceNow in the second quarter worth about $39,000. Finally, Dunhill Financial LLC boosted its stake in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,072.02 on Monday. The firm has a 50 day moving average of $1,069.67 and a two-hundred day moving average of $932.23. The stock has a market capitalization 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 company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the firm posted $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction 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 approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOW shares. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Sanford C. Bernstein lifted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

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.