Yousif Capital Management LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Yousif Capital Management LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,822 shares of the information technology services provider’s stock after acquiring an additional 1,226 shares during the quarter. Yousif Capital Management LLC’s holdings in ServiceNow were worth $20,362,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wealth Management Partners LLC lifted its position in shares of ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the period. Trust Co. of Vermont lifted its holdings in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after buying an additional 15 shares in the last quarter. Claro Advisors LLC boosted its position in ServiceNow by 3.6% in the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after buying an additional 15 shares during the period. Finally, Country Club Bank GFN grew its stake in shares of ServiceNow by 1.6% in the fourth quarter. Country Club Bank GFN now owns 951 shares of the information technology services provider’s stock worth $668,000 after acquiring an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $19.00 on Tuesday, reaching $740.95. 1,056,076 shares of the company were exchanged, compared to its average volume of 1,178,383. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a 50-day moving average of $762.24 and a 200-day moving average of $706.46. The firm has a market cap of $152.18 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 EPS. Equities analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. UBS Group lifted their price objective on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Mizuho boosted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. BMO Capital Markets raised their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Truist Financial boosted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, KeyCorp started coverage on ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price target on the stock. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $780.37.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

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.