Raymond James & Associates Acquires 8,446 Shares of ServiceNow, Inc. (NYSE:NOW)

Raymond James & Associates boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,857 shares of the information technology services provider’s stock after acquiring an additional 8,446 shares during the period. Raymond James & Associates’ holdings in ServiceNow were worth $242,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Slow Capital Inc. grew its holdings in ServiceNow by 0.5% during the 3rd quarter. Slow Capital Inc. now owns 5,941 shares of the information technology services provider’s stock worth $5,314,000 after acquiring an additional 32 shares in the last quarter. Capital Investment Advisors LLC lifted its position in shares of ServiceNow by 15.2% during the third quarter. Capital Investment Advisors LLC now owns 2,717 shares of the information technology services provider’s stock valued at $2,430,000 after buying an additional 359 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of ServiceNow by 45.4% during the third quarter. Moss Adams Wealth Advisors LLC now owns 442 shares of the information technology services provider’s stock valued at $395,000 after buying an additional 138 shares during the last quarter. Generate Investment Management Ltd lifted its position in shares of ServiceNow by 9.5% during the third quarter. Generate Investment Management Ltd now owns 16,165 shares of the information technology services provider’s stock valued at $14,458,000 after buying an additional 1,401 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its position in shares of ServiceNow by 83.4% during the third quarter. Accurate Wealth Management LLC now owns 1,623 shares of the information technology services provider’s stock valued at $1,506,000 after buying an additional 738 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 0.5 %

NOW traded up $4.63 on Friday, reaching $921.75. The company’s stock had a trading volume of 1,422,660 shares, compared to its average volume of 1,272,323. The stock has a 50 day moving average of $874.61 and a two-hundred day moving average of $791.74. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $188.96 billion, a price-to-earnings ratio of 98.59, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. TD Cowen increased their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $914.15.

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.