ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,825 shares of the information technology services provider’s stock after acquiring an additional 494 shares during the quarter. Financial Counselors Inc.’s holdings in ServiceNow were worth $22,203,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Quent Capital LLC lifted its holdings in ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after buying an additional 30 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of ServiceNow by 41.5% in the first quarter. Citizens Financial Group Inc. RI now owns 975 shares of the information technology services provider’s stock worth $743,000 after acquiring an additional 286 shares in the last quarter. LRI Investments LLC purchased a new position in ServiceNow in the first quarter valued at about $88,000. Burney Co. grew its stake in ServiceNow by 184.6% during the 1st quarter. Burney Co. now owns 16,553 shares of the information technology services provider’s stock valued at $12,620,000 after purchasing an additional 10,737 shares in the last quarter. Finally, Dock Street Asset Management Inc. increased its holdings in ServiceNow by 3.6% during the 1st quarter. Dock Street Asset Management Inc. now owns 18,357 shares of the information technology services provider’s stock worth $13,995,000 after purchasing an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $1,041.42 on Thursday. The stock has a market cap of $214.53 billion, a PE ratio of 161.96, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The stock has a 50-day moving average price of $958.40 and a two-hundred day moving average price of $842.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84.

ServiceNow (NYSE:NOW) last issued its earnings results 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. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm earned $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NOW shares. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. Finally, Canaccord Genuity Group increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $989.07.

Insider Buying and Selling

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the transaction, the insider now directly owns 3,457 shares of the company’s stock, valued at approximately $3,539,864.29. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on 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 owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,329 shares of company stock worth $20,547,241 in the last 90 days. Insiders own 0.25% of the company’s stock.

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.