Graypoint LLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Graypoint LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,503 shares of the information technology services provider’s stock after purchasing an additional 152 shares during the period. Graypoint LLC’s holdings in ServiceNow were worth $2,239,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Catalyst Financial Partners LLC increased its stake in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the last quarter. First Affirmative Financial Network increased its position in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC grew its holdings in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the last quarter. Finally, CX Institutional boosted its stake in ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.4 %

Shares of NOW stock opened at $994.35 on Thursday. ServiceNow, Inc. has a fifty-two week low of $610.38 and a fifty-two week high of $997.03. The stock has a market cap of $204.84 billion, a P/E ratio of 154.64, a P/E/G ratio of 5.48 and a beta of 0.98. 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 business has a fifty day simple moving average of $905.83 and a 200-day simple moving average of $809.18.

ServiceNow (NYSE:NOW) last issued 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. JMP Securities boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI boosted their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,343 shares of company stock valued at $2,791,181. Insiders own 0.25% of the company’s stock.

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.