ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its position in ServiceNow, Inc. (NYSE:NOWFree Report) by 19.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,978 shares of the information technology services provider’s stock after purchasing an additional 479 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ServiceNow were worth $1,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in ServiceNow by 2.0% in the second quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock valued at $4,630,812,000 after acquiring an additional 158,165 shares in the last quarter. Morgan Stanley grew its stake in ServiceNow by 4.3% during the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after buying an additional 288,522 shares during the last quarter. Capital International Investors increased its position in ServiceNow by 3.2% during the second quarter. Capital International Investors now owns 4,060,299 shares of the information technology services provider’s stock worth $2,281,477,000 after buying an additional 126,326 shares during the period. Geode Capital Management LLC lifted its stake in ServiceNow by 3.1% in the second quarter. Geode Capital Management LLC now owns 3,702,485 shares of the information technology services provider’s stock valued at $2,074,319,000 after buying an additional 112,544 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after acquiring an additional 461,614 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $777.46 on Wednesday. ServiceNow, Inc. has a 1-year low of $405.37 and a 1-year high of $789.91. The stock has a market cap of $159.38 billion, a P/E ratio of 92.44, a PEG ratio of 5.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50-day moving average of $719.13 and a two-hundred day moving average of $630.17.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $0.88 EPS. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 69 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $633.78, for a total transaction of $43,730.82. Following the completion of the transaction, the general counsel now directly owns 4,225 shares in the company, valued at approximately $2,677,720.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,575 shares of company stock valued at $6,602,686. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NOW shares. JMP Securities increased their price target on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Truist Financial lifted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays upped their target price on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus raised their target price on shares of ServiceNow from $740.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned 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 target price of $750.93.

Check Out Our Latest Report on ServiceNow

ServiceNow Profile

(Free Report)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Featured Articles

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.