Jacobs & Co. CA Sells 45 Shares of ServiceNow, Inc. (NYSE:NOW)

Jacobs & Co. CA decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,016 shares of the information technology services provider’s stock after selling 45 shares during the period. Jacobs & Co. CA’s holdings in ServiceNow were worth $8,063,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOW. M&G Plc purchased a new stake in ServiceNow during the 1st quarter valued at $11,030,000. AXA S.A. boosted its holdings in shares of ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. New Mexico Educational Retirement Board grew its stake in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. HWG Holdings LP purchased a new position in ServiceNow during the 2nd quarter valued at about $2,679,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company increased their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Up 1.6 %

ServiceNow stock opened at $880.63 on Thursday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $945.46. The firm has a market cap of $180.53 billion, a P/E ratio of 94.19, a P/E/G ratio of 5.55 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $845.39 and a two-hundred day moving average of $778.69.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last quarter. 0.25% of the stock is currently owned by 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.