Advisor Resource Council Acquires Shares of 286 ServiceNow, Inc. (NYSE:NOW)

Advisor Resource Council bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 286 shares of the information technology services provider’s stock, valued at approximately $256,000.

A number of other hedge funds also recently modified their holdings of NOW. M&G Plc bought a new position in ServiceNow in the 1st quarter valued at about $11,030,000. AXA S.A. raised its position in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares in the last quarter. HWG Holdings LP bought a new stake in ServiceNow during the second quarter worth $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its stake in shares of ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NOW shares. Wells Fargo & Company upped their price objective on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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 note on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus boosted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Up 2.1 %

ServiceNow stock opened at $1,015.45 on Friday. ServiceNow, Inc. has a fifty-two week low of $615.54 and a fifty-two week high of $1,024.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50-day simple moving average is $905.83 and its 200 day simple moving average is $809.18. The stock has a market cap of $209.18 billion, a PE ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for 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 company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. Research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 353 shares of the business’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 sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the sale, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock worth $2,791,181 in the last quarter. 0.25% of the stock is currently owned by company insiders.

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.