ServiceNow, Inc. (NYSE:NOW) Shares Bought by M&G Plc

M&G Plc grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 34.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,492 shares of the information technology services provider’s stock after purchasing an additional 1,666 shares during the period. M&G Plc’s holdings in ServiceNow were worth $5,804,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its holdings in ServiceNow by 37.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,634 shares of the information technology services provider’s stock worth $2,356,000 after buying an additional 722 shares in the last quarter. Maia Wealth LLC purchased a new stake in shares of ServiceNow during the third quarter worth about $244,000. Catalina Capital Group LLC lifted its stake in shares of ServiceNow by 25.5% in the third quarter. Catalina Capital Group LLC now owns 713 shares of the information technology services provider’s stock worth $638,000 after acquiring an additional 145 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Finally, NorthRock Partners LLC grew its stake in ServiceNow by 8.4% during the 3rd quarter. NorthRock Partners LLC now owns 673 shares of the information technology services provider’s stock valued at $602,000 after purchasing an additional 52 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated 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 directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,343 shares of company stock valued at $2,791,181. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOW. JPMorgan Chase & Co. upped their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird boosted 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. JMP Securities increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Down 0.7 %

NOW opened at $1,008.08 on Friday. 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, Inc. has a 12 month low of $615.54 and a 12 month high of $1,024.44. The stock’s 50 day moving average price is $912.56 and its 200 day moving average price is $812.60. The stock has a market cap of $207.66 billion, a P/E ratio of 156.78, a P/E/G ratio of 5.71 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 business 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%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.