Avidian Wealth Enterprises LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Avidian Wealth Enterprises LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 39.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 488 shares of the information technology services provider’s stock after acquiring an additional 138 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in ServiceNow were worth $436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. International Assets Investment Management LLC raised its position in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Swedbank AB bought a new stake in ServiceNow during the 1st quarter valued at $897,908,000. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of ServiceNow in the second quarter worth $218,786,000. Finally, Acadian Asset Management LLC grew its position in shares of ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 2.1 %

Shares of NYSE NOW opened at $1,015.45 on Friday. The firm’s fifty day moving average is $905.83 and its 200 day moving average is $809.18. ServiceNow, Inc. has a 52 week low of $615.54 and a 52 week high of $1,024.44. 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 has a market cap of $209.18 billion, a price-to-earnings ratio of 157.92, a PEG ratio of 5.48 and a beta of 0.98.

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 12.77% and a return on equity of 16.03%. 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. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial raised their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. 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. Canaccord Genuity Group raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’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 value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,343 shares of company stock valued at $2,791,181. 0.25% of the stock is currently owned by company insiders.

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.