Mutual Advisors LLC Purchases 299 Shares of ServiceNow, Inc. (NYSE:NOW)

Mutual Advisors LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,804 shares of the information technology services provider’s stock after acquiring an additional 299 shares during the period. Mutual Advisors LLC’s holdings in ServiceNow were worth $3,639,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. M&G Plc acquired a new position in ServiceNow during the first quarter worth $11,030,000. AXA S.A. grew its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of ServiceNow in the second quarter valued at about $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in ServiceNow by 375.6% during the first 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 acquiring an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in ServiceNow by 3.4% during the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Sanford C. Bernstein upped their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. KeyCorp increased their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC upped their target price on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $950.81 on Thursday. The company’s 50 day simple moving average is $892.35 and its 200 day simple moving average is $801.24. 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, Inc. has a 1 year low of $564.90 and a 1 year high of $979.78. The stock has a market capitalization of $195.87 billion, a price-to-earnings ratio of 147.87, a price-to-earnings-growth ratio of 5.67 and a beta of 0.99.

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, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the company earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on 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 sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,467 shares of company stock worth $4,450,447. Corporate insiders own 0.25% of the company’s stock.

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.