Argent Capital Management LLC Has $56.94 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Argent Capital Management LLC lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,714 shares of the information technology services provider's stock after selling 1,147 shares during the quarter. ServiceNow makes up about 1.6% of Argent Capital Management LLC's investment portfolio, making the stock its 25th largest holding. Argent Capital Management LLC's holdings in ServiceNow were worth $56,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Truvestments Capital LLC bought a new position in ServiceNow during the third quarter worth about $30,000. DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after buying an additional 17 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. increased its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC raised its stake in ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 21 shares during the period. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price objective for the company. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,071.39.

ServiceNow Trading Up 0.3 %

Shares of NYSE:NOW traded up $3.07 during mid-day trading on Thursday, reaching $1,057.20. 627,618 shares of the company's stock were exchanged, compared to its average volume of 1,181,062. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The firm has a market capitalization of $217.78 billion, a price-to-earnings ratio of 164.42, a PEG ratio of 4.65 and a beta of 0.99. The business's fifty day moving average price is $1,067.55 and its 200-day moving average price is $928.41.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business's quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,276 shares of company stock valued at $20,535,115. 0.25% of the stock is currently owned by company insiders.

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.