Swiss National Bank Raises Position in ServiceNow, Inc. (NYSE:NOW)

Swiss National Bank raised its stake in ServiceNow, Inc. (NYSE:NOW) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 608,500 shares of the information technology services provider’s stock after buying an additional 1,500 shares during the quarter. Swiss National Bank’s holdings in ServiceNow were worth $544,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the last quarter. First Affirmative Financial Network increased its position in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the last quarter. BluePointe Capital Management LLC increased its position in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after acquiring an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC increased its position in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research analyst reports. JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Piper Sandler raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial raised their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $974.04.

ServiceNow Trading Down 2.7 %

Shares of NOW stock opened at $1,011.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $932.47 and a two-hundred day moving average price of $824.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The firm has a market cap of $208.35 billion, a P/E ratio of 157.29, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,325 shares of company stock worth $5,024,928. Company 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.