Aviance Capital Partners LLC Acquires Shares of 3,137 ServiceNow, Inc. (NYSE:NOW)

Aviance Capital Partners LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,137 shares of the information technology services provider's stock, valued at approximately $2,806,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter worth about $32,000. Finally, DT Investment Partners LLC boosted its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after buying an additional 17 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOW shares. Piper Sandler lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Morgan Stanley lowered ServiceNow from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Needham & Company LLC upped their target price on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $986.39.

ServiceNow Stock Up 1.7 %

Shares of ServiceNow stock traded up $16.85 during midday trading on Tuesday, hitting $1,022.19. The company's stock had a trading volume of 1,816,639 shares, compared to its average volume of 1,285,622. The stock has a 50-day simple moving average of $935.45 and a 200-day simple moving average of $827.30. 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 firm has a market capitalization of $210.57 billion, a P/E ratio of 156.35, a PEG ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The firm's revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,373 shares of company stock worth $7,139,335. Insiders own 0.25% of the company's stock.

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.