CWA Asset Management Group LLC Purchases Shares of 3,492 ServiceNow, Inc. (NYSE:NOW)

CWA Asset Management Group LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the third quarter, HoldingsChannel reports. The firm acquired 3,492 shares of the information technology services provider’s stock, valued at approximately $3,123,000.

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC boosted its position in ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of ServiceNow by 6.7% in the 1st quarter. Atomi Financial Group Inc. now owns 1,699 shares of the information technology services provider’s stock valued at $1,295,000 after acquiring an additional 107 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in ServiceNow by 5.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,662 shares of the information technology services provider’s stock valued at $1,266,000 after acquiring an additional 93 shares during the period. Fiduciary Family Office LLC bought a new position in ServiceNow during the 1st quarter worth approximately $479,000. Finally, Meeder Asset Management Inc. increased its stake in ServiceNow by 17.9% in the 1st quarter. Meeder Asset Management Inc. now owns 533 shares of the information technology services provider’s stock worth $406,000 after purchasing an additional 81 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $1,008.08 on Friday. ServiceNow, Inc. has a twelve month low of $615.54 and a twelve month high of $1,024.44. 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 company has a market capitalization of $207.66 billion, a P/E ratio of 156.78, a PEG ratio of 5.71 and a beta of 0.98. The stock’s 50 day moving average is $912.56 and its 200 day moving average is $812.60.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. Canaccord Genuity Group raised their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho raised their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. KeyCorp upped their price objective on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Barclays boosted their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, 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 is accessible through this link. In related news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated 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 of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,343 shares of company stock valued at $2,791,181. 0.25% of the stock is owned by insiders.

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.