ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459 shares of the information technology services provider’s stock after purchasing an additional 10 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in ServiceNow were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NOW. Dimensional Fund Advisors LP increased its holdings in shares of ServiceNow by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock valued at $216,207,000 after acquiring an additional 39,984 shares during the period. Bradley Foster & Sargent Inc. CT acquired a new position in ServiceNow in the second quarter valued at $256,000. Wealth Alliance raised its holdings in shares of ServiceNow by 6.9% in the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock valued at $747,000 after buying an additional 61 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of ServiceNow by 33.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after buying an additional 2,595 shares during the period. Finally, Argent Trust Co grew its holdings in shares of ServiceNow by 5.4% during the second quarter. Argent Trust Co now owns 3,315 shares of the information technology services provider’s stock worth $2,608,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,276 shares of company stock valued at $20,535,115 over the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. TD Cowen raised 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 note on Tuesday, December 10th. Finally, 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 research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,071.39.

ServiceNow Stock Up 0.3 %

NOW stock opened at $1,057.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50 day simple moving average is $1,067.55 and its 200-day simple moving average is $928.41. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The firm has a market capitalization of $217.78 billion, a PE ratio of 164.42, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.