ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Winfield Associates Inc.

Winfield Associates Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,946 shares of the information technology services provider’s stock after buying an additional 35 shares during the quarter. Winfield Associates Inc.’s holdings in ServiceNow were worth $1,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Selective Wealth Management Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at $30,000. SRS Capital Advisors Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at $33,000. Lloyd Advisory Services LLC. increased its holdings in ServiceNow by 48.8% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 61 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. increased its holdings in ServiceNow by 97.0% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 65 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 32 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in ServiceNow in the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Several analysts have recently weighed in on NOW shares. BMO Capital Markets raised their target price on ServiceNow from $650.00 to $705.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. They noted that the move was a valuation call. JMP Securities raised their target price on ServiceNow from $639.00 to $705.00 and gave the company a “market outperform” rating in a research note on Monday, October 11th. Robert W. Baird raised their target price on ServiceNow from $580.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. Truist Securities lifted their price target on ServiceNow from $640.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 28th. Finally, Credit Suisse Group assumed coverage on ServiceNow in a research note on Tuesday, November 16th. They issued an “outperform” rating and a $850.00 price target for the company. Three analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $724.48.

NOW stock traded up $12.40 during mid-day trading on Thursday, hitting $649.31. The stock had a trading volume of 837,085 shares, compared to its average volume of 1,320,568. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a 1-year low of $448.27 and a 1-year high of $707.60. The company has a fifty day moving average of $662.43 and a 200 day moving average of $592.42. The stock has a market capitalization of $129.21 billion, a price-to-earnings ratio of 595.70, a PEG ratio of 17.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 27th. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.16. ServiceNow had a net margin of 3.99% and a return on equity of 9.31%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue was up 31.3% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 1.41 earnings per share for the current fiscal year.

In related news, Director Dennis Woodside purchased 2,861 shares of the stock in a transaction on Monday, November 8th. The shares were purchased at an average cost of $694.58 per share, with a total value of $1,987,193.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 66 shares of the stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $695.31, for a total transaction of $45,890.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,137 shares of company stock worth $16,245,151. Insiders own 0.35% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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