Linscomb Wealth Inc. Buys 90 Shares of ServiceNow, Inc. (NYSE:NOW)

Linscomb Wealth Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,502 shares of the information technology services provider’s stock after buying an additional 90 shares during the period. Linscomb Wealth Inc.’s holdings in ServiceNow were worth $2,238,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Quent Capital LLC increased its stake in shares of ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after purchasing an additional 30 shares during the period. M&G Plc acquired a new stake in ServiceNow during the first quarter worth about $11,030,000. Nicolet Advisory Services LLC grew its position in ServiceNow by 26.8% during the first quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock worth $469,000 after buying an additional 127 shares in the last quarter. Intech Investment Management LLC grew its position in ServiceNow by 411.5% during the first quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock worth $4,527,000 after buying an additional 4,777 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in ServiceNow by 233.4% during 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.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,325 shares of company stock valued at $5,024,928. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KeyCorp lifted their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC lifted their price objective on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com raised ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Stock Performance

NYSE NOW opened at $1,011.39 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The firm’s 50 day simple moving average is $932.47 and its 200 day simple moving average is $823.24. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business posted $1.21 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal 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.