262 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Accredited Investors Inc.

Accredited Investors Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 262 shares of the information technology services provider’s stock, valued at approximately $234,000.

A number of other institutional investors also recently modified their holdings of NOW. Avidian Wealth Enterprises LLC grew its position in ServiceNow by 39.4% in the third 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 in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 valued at $2,565,000 after acquiring an additional 765 shares during the last quarter. AXA S.A. raised its holdings 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 acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP acquired a new position in ServiceNow during the second quarter valued at approximately $2,679,000. Finally, Brookstone Capital Management grew its stake in ServiceNow by 25.5% in 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 purchasing an additional 2,928 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 2.7 %

Shares of ServiceNow stock opened at $1,011.39 on Monday. The firm’s 50 day moving average is $932.47 and its 200 day moving average is $825.13. The firm has a market capitalization of $208.35 billion, a PE ratio of 157.29, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. 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 (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping 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%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NOW shares. Piper Sandler increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer upped their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $974.04.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,231 shares of company stock valued at $4,947,292 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.