Mizuho Securities USA LLC Lowers Stock Position in ServiceNow, Inc. (NYSE:NOW)

Mizuho Securities USA LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,049 shares of the information technology services provider's stock after selling 761 shares during the period. Mizuho Securities USA LLC's holdings in ServiceNow were worth $13,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Linscomb Wealth Inc. raised its position in ServiceNow by 3.7% in the third quarter. Linscomb Wealth Inc. now owns 2,502 shares of the information technology services provider's stock worth $2,238,000 after acquiring an additional 90 shares during the period. Valley Wealth Managers Inc. grew its holdings in ServiceNow by 10.9% in the 3rd quarter. Valley Wealth Managers Inc. now owns 591 shares of the information technology services provider's stock worth $529,000 after acquiring an additional 58 shares during the last quarter. Empowered Funds LLC lifted its stake in ServiceNow by 34.0% in the third quarter. Empowered Funds LLC now owns 7,087 shares of the information technology services provider's stock worth $6,339,000 after acquiring an additional 1,797 shares during the period. Empirical Finance LLC boosted its position in ServiceNow by 2.5% during the 3rd quarter. Empirical Finance LLC now owns 6,644 shares of the information technology services provider's stock valued at $5,942,000 after acquiring an additional 159 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of ServiceNow by 13.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 574 shares of the information technology services provider's stock worth $513,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada raised their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Robert W. Baird lifted their target price on ServiceNow from $900.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. JMP Securities boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a "market outperform" rating in a research note on Thursday, October 17th. Mizuho upped their target price on ServiceNow from $850.00 to $980.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, StockNews.com raised shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $974.04.

Insider Activity

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 5,325 shares of company stock valued at $5,024,928 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Stock Down 2.7 %

NOW stock traded down $28.41 during midday trading on Friday, hitting $1,011.39. The stock had a trading volume of 1,498,472 shares, compared to its average volume of 1,366,353. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The business has a 50-day moving average of $932.47 and a two-hundred day moving average of $824.15. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week 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, 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. The business's quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.