Claro Advisors LLC Has $1.07 Million Position in ServiceNow, Inc. (NYSE:NOW)

Claro Advisors LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 31.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195 shares of the information technology services provider’s stock after buying an additional 288 shares during the quarter. Claro Advisors LLC’s holdings in ServiceNow were worth $1,069,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Swedbank AB acquired a new stake in shares of ServiceNow in the 1st quarter valued at $897,908,000. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $218,786,000. Canada Pension Plan Investment Board boosted its holdings in shares of ServiceNow by 59.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock valued at $500,258,000 after purchasing an additional 237,086 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of ServiceNow by 110.2% in the 3rd quarter. abrdn plc now owns 442,382 shares of the information technology services provider’s stock valued at $392,477,000 after purchasing an additional 231,900 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NOW shares. Citigroup increased their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $974.04.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,011.39 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $932.47 and a two-hundred day moving average price of $825.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. The company has a market cap of $208.35 billion, a P/E ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s 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 directly owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s 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 completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,231 shares of company stock worth $4,947,292 in the last three months. Company 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.