ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Caprock Group LLC

Caprock Group LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,177 shares of the information technology services provider’s stock after purchasing an additional 183 shares during the period. Caprock Group LLC’s holdings in ServiceNow were worth $3,737,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOW. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. Mizuho upped their price target on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup raised their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

Insiders Place Their Bets

In other news, 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 transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,373 shares of company stock worth $7,139,335. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.7 %

NYSE:NOW opened at $1,022.19 on Wednesday. The firm has a market capitalization of $210.57 billion, a P/E ratio of 158.97, a P/E/G ratio of 5.80 and a beta of 0.98. The business has a 50 day simple moving average of $938.70 and a 200 day simple moving average of $829.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

ServiceNow Company 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.