Concentric Capital Strategies LP Has $2.57 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Concentric Capital Strategies LP trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 60.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,871 shares of the information technology services provider's stock after selling 4,331 shares during the period. Concentric Capital Strategies LP's holdings in ServiceNow were worth $2,568,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AXA S.A. grew its position in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after buying an additional 765 shares during the last quarter. HWG Holdings LP bought a new stake in shares of ServiceNow in the second quarter valued at approximately $2,679,000. Finally, Brookstone Capital Management grew its stake in shares of ServiceNow by 25.5% in the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider's stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock worth $20,547,241 in the last 90 days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Down 0.5 %

ServiceNow stock traded down $4.95 during midday trading on Tuesday, reaching $1,043.48. The stock had a trading volume of 401,594 shares, compared to its average volume of 1,276,156. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm's fifty day simple moving average is $963.10 and its 200-day simple moving average is $847.50. The stock has a market capitalization of $214.96 billion, a P/E ratio of 163.05, a price-to-earnings-growth ratio of 6.02 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $2.75 billion. During the same quarter last year, the company earned $1.21 EPS. ServiceNow's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Scotiabank began coverage on ServiceNow in a report on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price target for the company. Evercore ISI lifted 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. Finally, JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a "market outperform" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $999.07.

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.