ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Insight Wealth Partners LLC

Insight Wealth Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290 shares of the information technology services provider’s stock after purchasing an additional 17 shares during the period. Insight Wealth Partners LLC’s holdings in ServiceNow were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter valued at $25,000. Truvestments Capital LLC purchased a new stake in ServiceNow during the third quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. DT Investment Partners LLC increased its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Finally, EntryPoint Capital LLC raised its holdings in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOW has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler lifted 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. Mizuho lifted their target price on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC increased their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $900.00 to $960.00 in a report on Monday, October 21st. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Price Performance

NOW stock opened at $1,070.07 on Wednesday. The stock has a 50-day moving average price of $955.40 and a two-hundred day moving average price of $841.01. The company has a market cap of $220.43 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,072.84.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,787 shares of company stock valued at $17,841,028. Corporate 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.