ServiceNow, Inc. (NYSE:NOW) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,094 shares of the information technology services provider’s stock after purchasing an additional 7,783 shares during the quarter. Assetmark Inc.’s holdings in ServiceNow were worth $49,276,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in the second 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 last quarter. EntryPoint Capital LLC boosted its holdings in shares of ServiceNow by 3,900.0% during the first 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 during the period. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the second quarter worth about $32,000. Finally, DT Investment Partners LLC increased its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer upped their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets increased their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC lifted their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 of the company’s stock, valued at approximately $2,457,924. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were 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 in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,343 shares of company stock valued at $2,791,181. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.7 %

NYSE:NOW opened at $1,008.08 on Friday. The stock has a fifty day simple moving average of $912.56 and a 200 day simple moving average of $812.60. The firm has a market capitalization of $207.66 billion, a price-to-earnings ratio of 156.78, a price-to-earnings-growth ratio of 5.71 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $615.54 and a 1-year high of $1,024.44. 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 (NYSE:NOW) last announced its 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.