Transamerica Financial Advisors Inc. Sells 382 Shares of ServiceNow, Inc. (NYSE:NOW)

Transamerica Financial Advisors Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,787 shares of the information technology services provider’s stock after selling 382 shares during the period. Transamerica Financial Advisors Inc.’s holdings in ServiceNow were worth $6,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC lifted its position in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares during the last quarter. AXA S.A. boosted its stake in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares during the period. HWG Holdings LP bought a new position in ServiceNow during the 2nd quarter valued at about $2,679,000. Finally, Brookstone Capital Management grew its stake in shares of ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after buying an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NOW shares. Truist Financial boosted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen lifted their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $989.07.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the transaction, the insider now owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,787 shares of company stock valued at $17,841,028. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock traded up $9.18 during midday trading on Tuesday, hitting $1,061.89. 109,148 shares of the company were exchanged, compared to its average volume of 1,282,485. The business has a fifty day simple moving average of $951.73 and a two-hundred day simple moving average of $838.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $218.75 billion, a PE ratio of 163.74, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,068.88.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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. 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 quarter last year, the company earned $1.21 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.