Wahed Invest LLC Has $4.37 Million Position in ServiceNow, Inc. (NYSE:NOW)

Wahed Invest LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,886 shares of the information technology services provider’s stock after buying an additional 319 shares during the period. ServiceNow comprises 0.8% of Wahed Invest LLC’s portfolio, making the stock its 25th biggest holding. Wahed Invest LLC’s holdings in ServiceNow were worth $4,370,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC raised its stake in shares of 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 during the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter valued at approximately $32,000. Oakworth Capital Inc. raised its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow in the second quarter valued at approximately $39,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,629 shares of company stock worth $20,861,626. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.1 %

ServiceNow stock opened at $1,123.72 on Friday. The firm has a market capitalization of $231.49 billion, a PE ratio of 174.76, a P/E/G ratio of 6.07 and a beta of 0.99. The company’s 50-day moving average is $977.66 and its 200-day moving average is $855.37. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,130.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. 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 report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,002.64.

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.