ServiceNow, Inc. (NYSE:NOW) Holdings Decreased by D.B. Root & Company LLC

D.B. Root & Company LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 20.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 878 shares of the information technology services provider’s stock after selling 229 shares during the quarter. D.B. Root & Company LLC’s holdings in ServiceNow were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Creekmur Asset Management LLC acquired a new position in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc grew its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC grew its holdings in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the period. Ridgewood Investments LLC acquired a new position in ServiceNow during the second quarter worth about $32,000. Finally, DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the third 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. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 2.4 %

NOW opened at $994.35 on Thursday. ServiceNow, Inc. has a 1-year low of $610.38 and a 1-year high of $997.03. 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 stock has a market capitalization of $204.84 billion, a price-to-earnings ratio of 154.64, a P/E/G ratio of 5.48 and a beta of 0.98. The business has a 50 day moving average of $905.83 and a 200-day moving average of $809.18.

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

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,343 shares of company stock worth $2,791,181. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NOW shares. Canaccord Genuity Group lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JMP Securities lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Needham & Company LLC lifted their price target on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, KeyCorp lifted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $970.33.

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.