ServiceNow, Inc. (NYSE:NOW) is Capital Investment Services of America Inc.’s 9th Largest Position

Capital Investment Services of America Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,191 shares of the information technology services provider’s stock after selling 2,278 shares during the period. ServiceNow makes up approximately 3.3% of Capital Investment Services of America Inc.’s portfolio, making the stock its 9th biggest holding. Capital Investment Services of America Inc.’s holdings in ServiceNow were worth $34,158,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NOW. M&G Plc acquired a new position in shares of ServiceNow during the first quarter worth about $11,030,000. AXA S.A. grew its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in shares of ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW traded up $8.51 during mid-day trading on Monday, reaching $951.92. 174,170 shares of the company’s stock traded hands, compared to its average volume of 1,279,998. ServiceNow, Inc. has a 12 month low of $602.45 and a 12 month high of $979.78. The stock has a market capitalization of $196.10 billion, a P/E ratio of 146.72, a price-to-earnings-growth ratio of 5.35 and a beta of 0.98. The business’s 50-day moving average price is $896.89 and its 200-day moving average price is $804.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was 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 of the company’s stock, valued at $2,799,853.92. The trade was 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 the SEC website. Also, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,530 shares of company stock worth $2,939,955 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Truist Financial increased their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

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.