Concorde Asset Management LLC Has $394,000 Stock Position in ServiceNow, Inc. (NYSE:NOW)

Concorde Asset Management LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440 shares of the information technology services provider’s stock after selling 10 shares during the quarter. Concorde Asset Management LLC’s holdings in ServiceNow were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC lifted its position in shares of ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after purchasing an additional 30 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in ServiceNow in the first quarter valued at approximately $210,000. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in 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 last quarter. CreativeOne Wealth LLC lifted its stake in ServiceNow by 81.8% in the first quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock valued at $488,000 after acquiring an additional 288 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in ServiceNow by 22.5% in the first quarter. Advisors Asset Management Inc. now owns 7,905 shares of the information technology services provider’s stock valued at $6,027,000 after acquiring an additional 1,453 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NOW shares. UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Truist Financial boosted their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’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 of the company’s stock, valued at $3,027,502.32. This represents a 33.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’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 directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,644 shares of company stock worth $19,381,744 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.5 %

Shares of NYSE:NOW opened at $1,048.34 on Friday. The company’s fifty day moving average is $944.90 and its 200-day moving average is $832.32. The company has a market capitalization of $215.96 billion, a PE ratio of 163.04, a P/E/G ratio of 5.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66.

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