LPL Financial LLC Acquires 1,805 Shares of ServiceNow (NOW)

LPL Financial LLC lifted its holdings in shares of ServiceNow (NYSE:NOW) by 59.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,829 shares of the information technology services provider’s stock after purchasing an additional 1,805 shares during the period. LPL Financial LLC’s holdings in ServiceNow were worth $630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOW. Exane Derivatives increased its stake in shares of ServiceNow by 90.3% during the 4th quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock worth $121,000 after purchasing an additional 439 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $131,000. Roble Belko & Company Inc increased its stake in shares of ServiceNow by 5,263.2% during the 4th quarter. Roble Belko & Company Inc now owns 1,019 shares of the information technology services provider’s stock worth $133,000 after purchasing an additional 1,000 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $166,000. Finally, Bellwether Investment Group LLC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $193,000.

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Shares of NOW opened at $166.90 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $29,449.18, a price-to-earnings ratio of -158.95, a P/E/G ratio of 37.62 and a beta of 1.08. ServiceNow has a fifty-two week low of $84.92 and a fifty-two week high of $176.56.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $546.37 million for the quarter, compared to analyst estimates of $532.74 million. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 23.78%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. sell-side analysts forecast that ServiceNow will post 0.1 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 9th. Argus lifted their target price on shares of ServiceNow to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Mizuho reaffirmed a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a research note on Thursday, March 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a research note on Friday, March 16th. Finally, KeyCorp lifted their target price on shares of ServiceNow from $165.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the stock. ServiceNow presently has a consensus rating of “Buy” and a consensus price target of $155.93.

In related news, Director Anita M. Sands sold 1,636 shares of ServiceNow stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $150.51, for a total transaction of $246,234.36. Following the transaction, the director now owns 12,704 shares in the company, valued at approximately $1,912,079.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction on Monday, March 12th. The shares were sold at an average price of $173.95, for a total transaction of $5,653,375.00. Following the transaction, the director now owns 260,791 shares in the company, valued at approximately $45,364,594.45. The disclosure for this sale can be found here. Insiders have sold a total of 490,308 shares of company stock worth $76,422,398 in the last 90 days. Company insiders own 3.30% of the company’s stock.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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