Turtle Creek Wealth Advisors LLC Purchases 60 Shares of ServiceNow, Inc. (NYSE:NOW)

Turtle Creek Wealth Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380 shares of the information technology services provider’s stock after buying an additional 60 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in ServiceNow were worth $340,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake 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 valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB bought a new position in shares of ServiceNow in the first quarter worth about $897,908,000. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $218,786,000. Acadian Asset Management LLC grew its holdings in shares of ServiceNow by 233.4% during the 1st 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 during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in ServiceNow by 59.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock valued at $500,258,000 after purchasing an additional 237,086 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Oppenheimer lifted their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $974.04.

Insider Activity

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

ServiceNow Stock Down 2.7 %

NYSE NOW traded down $28.41 on Friday, reaching $1,011.39. The company had a trading volume of 1,498,472 shares, compared to its average volume of 1,281,121. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. 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 stock has a market capitalization of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The company’s fifty day moving average is $932.47 and its 200 day moving average is $823.24.

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

ServiceNow Profile

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.