XML Financial LLC Invests $239,000 in ServiceNow, Inc. (NYSE:NOW)

XML Financial LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 225 shares of the information technology services provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Nisa Investment Advisors LLC raised its holdings in shares of ServiceNow by 4.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,840 shares of the information technology services provider’s stock worth $69,798,000 after acquiring an additional 2,899 shares during the last quarter. Traphagen Investment Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $201,000. Genesis Private Wealth LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $378,000. Sheets Smith Wealth Management lifted its holdings in shares of ServiceNow by 9.6% in the fourth quarter. Sheets Smith Wealth Management now owns 5,401 shares of the information technology services provider’s stock valued at $5,726,000 after purchasing an additional 474 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $678,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, Mizuho upped their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,093.34.

ServiceNow Stock Performance

ServiceNow stock opened at $1,132.30 on Friday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $233.25 billion, a PE ratio of 176.10, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The firm’s 50 day simple moving average is $1,072.95 and its 200 day simple moving average is $938.64.

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

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 in the last ninety days. 0.25% of the stock is currently owned by insiders.

About ServiceNow

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.