Charles Schwab Investment Management Inc. Buys 31,702 Shares of ServiceNow, Inc. (NYSE:NOW)

Charles Schwab Investment Management Inc. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,337 shares of the information technology services provider’s stock after purchasing an additional 31,702 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of ServiceNow worth $1,105,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the first quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in shares of 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 purchasing an additional 28 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in ServiceNow in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on 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 owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the sale, the insider now owns 3,457 shares in the company, valued at $3,539,864.29. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,373 shares of company stock worth $7,139,335 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NOW. KeyCorp increased their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $986.39.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,033.15 on Thursday. The stock has a market capitalization of $212.83 billion, a P/E ratio of 159.10, a PEG ratio of 5.87 and a beta of 0.98. The business has a 50 day simple moving average of $941.65 and a two-hundred day simple moving average of $830.81. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. As a group, analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.