ServiceNow, Inc. (NYSE:NOW) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,097 shares of the information technology services provider’s stock after selling 92 shares during the quarter. Callahan Advisors LLC’s holdings in ServiceNow were worth $3,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Catalina Capital Group LLC increased its stake in shares of ServiceNow by 25.5% in the third quarter. Catalina Capital Group LLC now owns 713 shares of the information technology services provider’s stock valued at $638,000 after purchasing an additional 145 shares during the period. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. NorthRock Partners LLC increased its stake in shares of ServiceNow by 8.4% during the third quarter. NorthRock Partners LLC now owns 673 shares of the information technology services provider’s stock valued at $602,000 after acquiring an additional 52 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of ServiceNow by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 10,554 shares of the information technology services provider’s stock valued at $9,439,000 after acquiring an additional 46 shares during the period. Finally, Arthur M. Cohen & Associates LLC increased its stake in shares of ServiceNow by 1.0% during the third quarter. Arthur M. Cohen & Associates LLC now owns 1,458 shares of the information technology services provider’s stock valued at $1,264,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.8 %

ServiceNow stock opened at $971.47 on Wednesday. The company’s fifty day simple moving average is $902.22 and its 200-day simple moving average is $807.88. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $602.45 and a 12 month high of $979.78. The stock has a market cap of $200.12 billion, a P/E ratio of 151.08, a P/E/G ratio of 5.41 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 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 business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock worth $2,939,955 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Mizuho raised their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird raised their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays raised their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow 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.