InTrack Investment Management Inc Has $1.48 Million Position in ServiceNow, Inc. (NYSE:NOW)

InTrack Investment Management Inc cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 20.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,654 shares of the information technology services provider’s stock after selling 436 shares during the quarter. ServiceNow comprises 1.0% of InTrack Investment Management Inc’s portfolio, making the stock its 26th biggest holding. InTrack Investment Management Inc’s holdings in ServiceNow were worth $1,479,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $11,030,000. AXA S.A. increased its holdings in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in ServiceNow in the 2nd quarter valued at $2,679,000. New Mexico Educational Retirement Board grew its holdings in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings 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 valued at $1,041,000 after buying an additional 1,078 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NOW shares. Piper Sandler upped their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Citigroup upped their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $880.04.

ServiceNow Price Performance

Shares of NOW opened at $938.59 on Friday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.00. The business has a 50-day simple moving average of $861.16 and a two-hundred day simple moving average of $786.23. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $192.41 billion, a PE ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Nicholas Tzitzon sold 1,857 shares of the 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 completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.