Delta Investment Management LLC Buys 55 Shares of ServiceNow, Inc. (NYSE:NOW)

Delta Investment Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 461 shares of the information technology services provider’s stock after buying an additional 55 shares during the quarter. Delta Investment Management LLC’s holdings in ServiceNow were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its holdings in shares of ServiceNow by 3.3% during the third quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock worth $33,180,000 after purchasing an additional 1,904 shares during the period. Zullo Investment Group Inc. boosted its holdings in shares of ServiceNow by 3.1% during the third quarter. Zullo Investment Group Inc. now owns 838 shares of the information technology services provider’s stock worth $468,000 after purchasing an additional 25 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 7.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 513 shares of the information technology services provider’s stock worth $287,000 after purchasing an additional 37 shares during the period. Slow Capital Inc. purchased a new stake in shares of ServiceNow during the third quarter worth about $1,963,000. Finally, Lineweaver Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the third quarter worth about $361,000. 87.18% of the stock is owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last 90 days. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE:NOW traded up $7.30 during trading hours on Friday, reaching $723.55. The company had a trading volume of 1,445,884 shares, compared to its average volume of 1,087,368. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The firm has a market cap of $148.60 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 4.53 and a beta of 0.97. The firm’s 50 day moving average price is $759.21 and its 200-day moving average price is $707.90.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share 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 analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. On average, analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on NOW. The Goldman Sachs Group raised their price objective on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Thursday. KeyCorp lowered 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. JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday. Finally, BMO Capital Markets lowered their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $782.85.

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.