Amalgamated Bank Raises Position in ServiceNow, Inc. (NYSE:NOW)

Amalgamated Bank raised its stake in ServiceNow, Inc. (NYSE:NOW) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 44,505 shares of the information technology services provider’s stock after buying an additional 438 shares during the quarter. Amalgamated Bank’s holdings in ServiceNow were worth $39,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter worth approximately $25,000. Versant Capital Management Inc raised 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 worth $27,000 after purchasing an additional 28 shares during the last quarter. DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.2 %

Shares of NOW stock opened at $954.59 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $899.43 and a two-hundred day moving average price of $806.07. ServiceNow, Inc. has a 12-month low of $602.45 and a 12-month high of $979.78. The firm has a market cap of $196.65 billion, a P/E ratio of 148.46, a price-to-earnings-growth ratio of 5.41 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred 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 owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,530 shares of company stock valued at $2,939,955. 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.