Advisor Resource Council Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Advisor Resource Council purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the third quarter, Holdings Channel reports. The institutional investor purchased 286 shares of the information technology services provider’s stock, valued at approximately $256,000.

Other institutional investors also recently modified their holdings of the company. M&G Plc purchased a new stake in ServiceNow in the 1st quarter worth approximately $11,030,000. AXA S.A. lifted its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new stake in ServiceNow in the 2nd quarter worth approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 56 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 2.1 %

Shares of NYSE NOW opened at $1,015.45 on Friday. ServiceNow, Inc. has a 1 year low of $615.54 and a 1 year high of $1,024.44. The stock has a market cap of $209.18 billion, a P/E ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98. The firm has a 50-day moving average of $905.83 and a 200 day moving average of $809.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’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 earned $1.21 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. KeyCorp raised their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a 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 given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $970.33.

Get Our Latest Analysis on ServiceNow

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. 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 accessible through this link. In other news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,343 shares of company stock valued at $2,791,181. Insiders own 0.25% of the company’s stock.

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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