Lewis Asset Management LLC Has $719,000 Position in ServiceNow, Inc. (NYSE:NOW)

Lewis Asset Management LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 803 shares of the information technology services provider’s stock after selling 89 shares during the quarter. Lewis Asset Management LLC’s holdings in ServiceNow were worth $719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. TFB Advisors LLC increased its position in ServiceNow by 3.3% in the 3rd quarter. TFB Advisors LLC now owns 866 shares of the information technology services provider’s stock valued at $775,000 after acquiring an additional 28 shares during the period. Valley Brook Capital Group Inc. increased its holdings in ServiceNow by 11.2% in the third quarter. Valley Brook Capital Group Inc. now owns 447 shares of the information technology services provider’s stock valued at $400,000 after purchasing an additional 45 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in ServiceNow by 6.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 4,651 shares of the information technology services provider’s stock worth $4,160,000 after buying an additional 299 shares during the period. Jackson Square Capital LLC grew its position in shares of ServiceNow by 9.0% in the 3rd quarter. Jackson Square Capital LLC now owns 412 shares of the information technology services provider’s stock valued at $368,000 after buying an additional 34 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $256,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 2.1 %

NYSE:NOW opened at $1,015.45 on Friday. ServiceNow, Inc. has a 52 week low of $615.54 and a 52 week high of $1,024.44. The firm has a 50-day moving average price of $905.83 and a two-hundred day moving average price of $809.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $209.18 billion, a price-to-earnings ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued 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. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on NOW shares. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC upped their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This 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 Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $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. Insiders have sold 3,343 shares of company stock worth $2,791,181 in the last ninety days. Company insiders own 0.25% of the company’s stock.

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.