ServiceNow, Inc. (NYSE:NOW) Position Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 20.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,515 shares of the information technology services provider’s stock after acquiring an additional 1,274 shares during the period. First Trust Direct Indexing L.P.’s holdings in ServiceNow were worth $6,721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valeo Financial Advisors LLC boosted its holdings in shares of ServiceNow by 6.8% in the first quarter. Valeo Financial Advisors LLC now owns 1,997 shares of the information technology services provider’s stock worth $1,523,000 after buying an additional 127 shares during the period. E&G Advisors LP purchased a new position in ServiceNow during the 1st quarter worth approximately $217,000. Valley National Advisers Inc. raised its stake in ServiceNow by 28.2% during the 1st quarter. Valley National Advisers Inc. now owns 978 shares of the information technology services provider’s stock valued at $745,000 after purchasing an additional 215 shares during the period. Kovack Advisors Inc. lifted its holdings in shares of ServiceNow by 18.8% in the first quarter. Kovack Advisors Inc. now owns 7,754 shares of the information technology services provider’s stock valued at $5,912,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Veracity Capital LLC boosted its position in shares of ServiceNow by 37.9% in the first quarter. Veracity Capital LLC now owns 1,045 shares of the information technology services provider’s stock worth $797,000 after buying an additional 287 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares in the company, valued at $8,850,474. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. TD Cowen increased their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Sandler upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Trading Up 0.5 %

Shares of NYSE:NOW traded up $5.09 during trading on Wednesday, hitting $958.17. 274,309 shares of the company’s stock were exchanged, compared to its average volume of 1,283,191. The firm has a 50-day moving average price of $890.11 and a two-hundred day moving average price of $800.19. ServiceNow, Inc. has a 1-year low of $564.90 and a 1-year high of $979.78. The firm has a market cap of $197.38 billion, a P/E ratio of 148.21, a PEG ratio of 5.67 and a beta of 0.99. 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 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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Company 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.