Hennion & Walsh Asset Management Inc. Acquires 743 Shares of ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 45.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,389 shares of the information technology services provider’s stock after buying 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sandbox Financial Partners LLC lifted its position in shares of ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares during the period. Federated Hermes Inc. lifted its holdings in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after acquiring an additional 49,631 shares during the period. Raymond James & Associates boosted its stake in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after purchasing an additional 18,442 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the last quarter. Finally, Dohj LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $913,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the sale, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Robert W. Baird increased their price target on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. UBS Group decreased their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

ServiceNow Stock Up 1.6 %

ServiceNow stock opened at $786.67 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $161.27 billion, a price-to-earnings ratio of 84.14, a PEG ratio of 4.93 and a beta of 0.96. The company’s 50 day simple moving average is $726.55 and its 200 day simple moving average is $741.06.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) 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 company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

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.