Canopy Partners LLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Canopy Partners LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,167 shares of the information technology services provider’s stock after acquiring an additional 45 shares during the period. ServiceNow comprises approximately 0.8% of Canopy Partners LLC’s holdings, making the stock its 24th biggest holding. Canopy Partners LLC’s holdings in ServiceNow were worth $1,938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,060.57 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,064.59. The firm has a 50-day simple moving average of $948.53 and a 200 day simple moving average of $834.64. The company has a market cap of $218.48 billion, a PE ratio of 164.94, a P/E/G ratio of 6.01 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NOW shares. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Oppenheimer lifted their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Mizuho lifted their target price on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Evercore ISI lifted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $986.39.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,644 shares of company stock worth $19,381,744. 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.