Larson Financial Group LLC Purchases 134 Shares of ServiceNow, Inc. (NYSE:NOW)

Larson Financial Group LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 48.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410 shares of the information technology services provider’s stock after acquiring an additional 134 shares during the period. Larson Financial Group LLC’s holdings in ServiceNow were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in 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. DT Investment Partners LLC boosted its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC raised its holdings in 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 shares of ServiceNow in the 2nd quarter worth about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NOW shares. Canaccord Genuity Group boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC upped their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday. Sanford C. Bernstein raised their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Truist Financial raised their price objective on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $989.07.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was 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 in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,867 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the transaction, the general counsel now directly owns 6,843 shares in the company, valued at $7,007,026.71. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,787 shares of company stock valued at $17,841,028. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.6 %

NYSE:NOW opened at $1,070.07 on Wednesday. The company has a market cap of $220.43 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. 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 company has a 50 day simple moving average of $955.40 and a two-hundred day simple moving average of $841.01.

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 analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.