Accredited Investors Inc. Acquires Shares of 262 ServiceNow, Inc. (NYSE:NOW)

Accredited Investors Inc. bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 262 shares of the information technology services provider’s stock, valued at approximately $234,000.

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,231 shares of company stock valued at $4,947,292. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.7 %

NOW opened at $1,011.39 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $932.47 and a two-hundred day simple moving average of $825.13. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly 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 company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup boosted their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Canaccord Genuity Group lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given 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 a consensus price target of $974.04.

About ServiceNow

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.