ServiceNow, Inc. (NYSE:NOW) Shares Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 8.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,136 shares of the information technology services provider’s stock after buying an additional 168 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in ServiceNow were worth $1,910,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Quent Capital LLC lifted its stake in shares of ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 30 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of ServiceNow by 14.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,350 shares of the information technology services provider’s stock valued at $1,029,000 after buying an additional 168 shares in the last quarter. Catalina Capital Group LLC purchased a new position in ServiceNow during the 1st quarter valued at about $439,000. Signaturefd LLC lifted its position in shares of ServiceNow by 6.9% during the first quarter. Signaturefd LLC now owns 3,610 shares of the information technology services provider’s stock worth $2,752,000 after purchasing an additional 233 shares in the last quarter. Finally, Eos Management L.P. acquired a new position in shares of ServiceNow in the first quarter valued at approximately $488,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $954.59 on Tuesday. 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 firm has a 50-day simple moving average of $899.43 and a 200 day simple moving average of $806.07. ServiceNow, Inc. has a fifty-two week low of $602.45 and a fifty-two week high of $979.78. The company has a market cap of $196.65 billion, a PE ratio of 148.46, a P/E/G ratio of 5.41 and a beta of 0.98.

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

Insider Activity

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,530 shares of company stock valued at $2,939,955. Company 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.