ServiceNow, Inc. (NYSE:NOW) Shares Sold by Hartline Investment Corp

Hartline Investment Corp reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,799 shares of the information technology services provider’s stock after selling 55 shares during the period. ServiceNow makes up approximately 2.9% of Hartline Investment Corp’s portfolio, making the stock its 11th largest position. Hartline Investment Corp’s holdings in ServiceNow were worth $23,074,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Financial Partners LLC boosted its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares in the last quarter. First Affirmative Financial Network boosted its position in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC increased its position in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. Finally, CX Institutional raised its stake in shares of ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.2 %

Shares of NOW stock opened at $1,048.29 on Wednesday. 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, Inc. has a fifty-two week low of $632.25 and a fifty-two week high of $1,053.26. The firm’s 50 day moving average price is $920.45 and its two-hundred day moving average price is $818.12. The stock has a market cap of $215.95 billion, a price-to-earnings ratio of 163.03, a price-to-earnings-growth ratio of 5.95 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $825.00, for a total transaction of $82,500.00. Following the sale, the insider now directly owns 2,994 shares in the company, valued at approximately $2,470,050. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $825.00, for a total transaction of $82,500.00. Following the completion of the sale, the insider now directly owns 2,994 shares of the company’s stock, valued at approximately $2,470,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,359 shares of company stock valued at $5,038,241 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup raised their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Piper Sandler upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

About ServiceNow

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.