Advisors Asset Management Inc. Buys 1,678 Shares of ServiceNow, Inc. (NYSE:NOW)

Advisors Asset Management Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 19.0% during the 3rd quarter, Holdings Channel reports. The fund owned 10,507 shares of the information technology services provider’s stock after acquiring an additional 1,678 shares during the period. Advisors Asset Management Inc.’s holdings in ServiceNow were worth $9,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NOW. Quent Capital LLC boosted its stake in ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 30 shares during the period. Edgestream Partners L.P. bought a new stake in shares of ServiceNow in the first quarter valued at about $210,000. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. CreativeOne Wealth LLC increased its position in ServiceNow by 81.8% during the first quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock worth $488,000 after acquiring an additional 288 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in ServiceNow by 5.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 942 shares of the information technology services provider’s stock worth $718,000 after purchasing an additional 52 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW opened at $1,022.98 on Thursday. The business has a 50-day moving average of $941.65 and a 200-day moving average of $830.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $210.73 billion, a price-to-earnings ratio of 159.10, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. KeyCorp upped their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $986.39.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction 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 $3,027,502.32. This represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,373 shares of company stock worth $7,139,335 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Company 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.