Syon Capital LLC Has $572,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Syon Capital LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 51.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 810 shares of the information technology services provider’s stock after purchasing an additional 276 shares during the period. Syon Capital LLC’s holdings in ServiceNow were worth $572,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Impact Partnership Wealth LLC grew its stake in ServiceNow by 672.7% during the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 74 shares in the last quarter. Galvin Gaustad & Stein LLC lifted its holdings in shares of ServiceNow by 33.3% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock worth $447,000 after acquiring an additional 200 shares during the last quarter. Oak Thistle LLC bought a new stake in ServiceNow during the 3rd quarter valued at $1,115,000. Asset Management One Co. Ltd. raised its holdings in ServiceNow by 4.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,412 shares of the information technology services provider’s stock valued at $55,567,000 after buying an additional 4,630 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in ServiceNow by 3.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock valued at $33,180,000 after buying an additional 1,904 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.0 %

NOW traded up $7.30 on Friday, reaching $723.55. The company’s stock had a trading volume of 1,439,853 shares, compared to its average volume of 1,216,592. The stock has a market cap of $148.60 billion, a price-to-earnings ratio of 78.27, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average is $760.05 and its 200 day moving average is $706.80.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business posted $0.88 EPS. The business’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp decreased their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler upped their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $782.85.

Insider Activity at ServiceNow

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

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.