Annex Advisory Services LLC Purchases 3,471 Shares of ServiceNow, Inc. (NYSE:NOW)

Annex Advisory Services LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,947 shares of the information technology services provider’s stock after purchasing an additional 3,471 shares during the quarter. Annex Advisory Services LLC’s holdings in ServiceNow were worth $23,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC raised its stake in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Bank of Montreal Can lifted its holdings in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC grew its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after buying an additional 502,845 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Mizuho raised their price target 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 equities research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,080.38.

ServiceNow Price Performance

Shares of NOW stock opened at $1,072.02 on Monday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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 stock has a fifty day simple moving average of $1,069.67 and a two-hundred day simple moving average of $932.23. The stock has a market capitalization of $220.84 billion, a price-to-earnings ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99.

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

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed 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 transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company’s stock.

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.