ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 25.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,779 shares of the information technology services provider’s stock after purchasing an additional 758 shares during the period. Citizens Financial Group Inc. RI’s holdings in ServiceNow were worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc increased its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter worth approximately $32,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 2.5 %

Shares of NYSE NOW opened at $1,048.34 on Friday. The firm has a market capitalization of $215.96 billion, a PE ratio of 163.04, a PEG ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66. 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 business has a 50-day moving average price of $944.90 and a two-hundred day moving average price of $832.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 analysts’ expectations of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,867 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,644 shares of company stock worth $19,381,744. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Piper Sandler upped their price target 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. Finally, TD Cowen raised their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $986.39.

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.