Sheaff Brock Investment Advisors LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Sheaff Brock Investment Advisors LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in ServiceNow were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOW. 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 worth $587,000 after acquiring an additional 30 shares during the last quarter. M&G Plc acquired a new stake in shares of ServiceNow during the 1st quarter worth $11,030,000. Nicolet Advisory Services LLC lifted its position in ServiceNow by 26.8% during the first quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock valued at $469,000 after buying an additional 127 shares in the last quarter. Intech Investment Management LLC lifted its position in ServiceNow by 411.5% during the first quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock valued at $4,527,000 after buying an additional 4,777 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in ServiceNow by 233.4% during the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $1,011.39 on Friday. The company has a market capitalization of $208.35 billion, a P/E ratio of 157.29, a PEG ratio of 6.00 and a beta of 0.98. The company has a 50-day simple moving average of $932.47 and a 200 day simple moving average of $823.24. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.21 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,325 shares of company stock valued at $5,024,928. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.