Hennion & Walsh Asset Management Inc. Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 45.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,389 shares of the information technology services provider’s stock after purchasing an additional 743 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ServiceNow were worth $1,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter worth $1,648,259,000. International Assets Investment Management LLC grew its stake in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in ServiceNow during the 1st quarter worth about $403,034,000. Cerity Partners LLC raised its position in ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $786.67 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The business has a fifty day moving average of $726.55 and a 200-day moving average of $741.06. The stock has a market cap of $161.27 billion, a price-to-earnings ratio of 84.14, a price-to-earnings-growth ratio of 4.93 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOW. William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Tuesday, June 18th. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley boosted their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 over the last 90 days. 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.