NorthCrest Asset Manangement LLC Acquires 23 Shares of ServiceNow, Inc. (NYSE:NOW)

NorthCrest Asset Manangement LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080 shares of the information technology services provider’s stock after purchasing an additional 23 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in ServiceNow were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in NOW. Hennion & Walsh Asset Management Inc. lifted its stake in ServiceNow by 45.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,389 shares of the information technology services provider’s stock valued at $1,821,000 after purchasing an additional 743 shares during the last quarter. Vicus Capital bought a new position in shares of ServiceNow during the 1st quarter worth $306,000. SteelPeak Wealth LLC purchased a new stake in ServiceNow in the 1st quarter worth about $485,000. LVW Advisors LLC raised its stake in ServiceNow by 18.0% in the 1st quarter. LVW Advisors LLC now owns 347 shares of the information technology services provider’s stock valued at $265,000 after acquiring an additional 53 shares during the period. Finally, Chapin Davis Inc. purchased a new stake in ServiceNow during the first quarter valued at about $380,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 0.6 %

Shares of ServiceNow stock opened at $950.85 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $548.44 and a 52-week high of $979.78. The company’s 50 day moving average price is $885.56 and its 200-day moving average price is $797.66. The stock has a market capitalization of $194.92 billion, a price-to-earnings ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) 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 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 7.41 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NOW. Citigroup boosted 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 report on Friday. Royal Bank of Canada increased their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler boosted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho boosted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $970.33.

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.