Lebenthal Global Advisors LLC Purchases 55 Shares of ServiceNow, Inc. (NYSE:NOW)

Lebenthal Global Advisors LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,714 shares of the information technology services provider’s stock after acquiring an additional 55 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in ServiceNow were worth $1,533,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Swedbank AB purchased a new stake in ServiceNow during the first quarter worth $897,908,000. Vanguard Group Inc. boosted its position in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of ServiceNow in the 2nd quarter valued at $218,786,000. Finally, Acadian Asset Management LLC raised its position in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after acquiring an additional 271,073 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. KeyCorp raised their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JMP Securities raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $1.73 during trading on Friday, reaching $934.72. 75,315 shares of the company traded hands, compared to its average volume of 1,280,920. The stock has a market cap of $192.55 billion, a P/E ratio of 145.09, a PEG ratio of 5.45 and a beta of 0.99. The firm’s fifty day simple moving average is $894.59 and its 200 day simple moving average is $802.16. 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 12-month low of $592.48 and a 12-month high of $979.78.

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

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade 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 hyperlink. In other news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,530 shares of company stock worth $2,939,955 in the last three months. Company 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.