Virtu Financial LLC Buys New Position in ServiceNow, Inc. (NYSE:NOW)

Virtu Financial LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,994 shares of the information technology services provider’s stock, valued at approximately $9,833,000. ServiceNow comprises about 0.5% of Virtu Financial LLC’s portfolio, making the stock its 22nd largest holding.

A number of other institutional investors have also modified their holdings of the business. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter valued at approximately $30,000. Ridgewood Investments LLC purchased a new position in ServiceNow in the 2nd quarter valued at $32,000. DT Investment Partners LLC increased its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. American Capital Advisory LLC purchased a new position in ServiceNow during the 2nd quarter worth $39,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow in the 2nd quarter worth $39,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Citigroup increased their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays raised their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Robert W. Baird upped their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,022.37.

ServiceNow Stock Up 1.7 %

Shares of NOW opened at $1,147.26 on Thursday. The firm has a market cap of $236.34 billion, a PE ratio of 178.42, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. 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 company’s fifty day moving average is $992.26 and its two-hundred day moving average is $864.29. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

ServiceNow (NYSE:NOW) last announced its quarterly 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. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is currently owned by corporate 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.