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

Larson Financial Group LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 48.6% during the 3rd quarter, Holdings Channel reports. The firm owned 410 shares of the information technology services provider’s stock after buying an additional 134 shares during the period. Larson Financial Group LLC’s holdings in ServiceNow were worth $367,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC increased 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 valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in ServiceNow in the 2nd quarter worth $32,000. Finally, DT Investment Partners LLC boosted 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. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho upped their price objective on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. 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. TD Cowen upped their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Stock Up 1.6 %

Shares of ServiceNow stock opened at $1,070.07 on Wednesday. The company has a market cap of $220.43 billion, a P/E ratio of 166.42, a PEG ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average price is $955.40 and its 200-day moving average price is $841.01.

ServiceNow (NYSE:NOW) last issued 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 analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,787 shares of company stock worth $17,841,028. 0.25% of the stock is owned by insiders.

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.