Marino Stram & Associates LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Marino Stram & Associates LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 316 shares of the information technology services provider’s stock after buying an additional 39 shares during the quarter. Marino Stram & Associates LLC’s holdings in ServiceNow were worth $335,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Magnus Financial Group LLC grew its position in shares of ServiceNow by 6.0% in the 4th quarter. Magnus Financial Group LLC now owns 513 shares of the information technology services provider’s stock worth $544,000 after buying an additional 29 shares during the last quarter. Advisory Alpha LLC grew its position in shares of ServiceNow by 7.3% in the 4th quarter. Advisory Alpha LLC now owns 250 shares of the information technology services provider’s stock worth $265,000 after buying an additional 17 shares during the last quarter. West Branch Capital LLC grew its position in shares of ServiceNow by 286.1% in the 4th quarter. West Branch Capital LLC now owns 417 shares of the information technology services provider’s stock worth $442,000 after buying an additional 309 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $216,000. Finally, XML Financial LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $239,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated 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 represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research 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 report on Friday, January 10th. Cantor Fitzgerald started coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price target on the stock. Royal Bank of Canada lifted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Stock Up 2.6 %

ServiceNow stock opened at $1,125.39 on Thursday. The stock has a fifty day moving average of $1,071.36 and a 200 day moving average of $937.32. 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 quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $231.83 billion, a PE ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.04 EPS for the current 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.