Graypoint LLC Purchases 152 Shares of ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Graypoint LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,503 shares of the information technology services provider’s stock after acquiring an additional 152 shares during the quarter. Graypoint LLC’s holdings in ServiceNow were worth $2,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $897,908,000. Vanguard Group Inc. increased its stake in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the period. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow during the 2nd quarter worth $218,786,000. Finally, Acadian Asset Management LLC raised its stake in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays raised their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

Check Out Our Latest Stock Analysis on NOW

ServiceNow Price Performance

ServiceNow stock opened at $994.35 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $204.84 billion, a P/E ratio of 154.64, a P/E/G ratio of 5.48 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $610.38 and a 52 week high of $997.03. The company’s 50 day moving average price is $905.83 and its two-hundred day moving average price is $809.18.

ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,343 shares of company stock worth $2,791,181. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Profile

(Free Report)

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.

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