ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 39.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 709 shares of the information technology services provider’s stock after purchasing an additional 200 shares during the period. Segment Wealth Management LLC’s holdings in ServiceNow were worth $634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Brookstone Capital Management grew its holdings in ServiceNow by 9.1% during the first quarter. Brookstone Capital Management now owns 11,466 shares of the information technology services provider’s stock worth $8,742,000 after acquiring an additional 957 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in ServiceNow by 15.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,624 shares of the information technology services provider’s stock worth $3,526,000 after acquiring an additional 618 shares during the period. Chesley Taft & Associates LLC grew its holdings in ServiceNow by 0.9% during the first quarter. Chesley Taft & Associates LLC now owns 3,810 shares of the information technology services provider’s stock worth $2,905,000 after acquiring an additional 35 shares during the period. Thrive Wealth Management LLC grew its holdings in ServiceNow by 7.7% in the first quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after purchasing an additional 28 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in ServiceNow by 15.4% in the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock valued at $935,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $907.68 on Thursday. The firm has a market capitalization of $186.07 billion, a PE ratio of 97.08, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $880.60 and a two-hundred day moving average of $795.09. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 over the last three months. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Barclays upped their target price on ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler upped their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. 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 report on Wednesday, October 16th. Wells Fargo & Company upped their target price on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $927.62.

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.