Oppenheimer & Co. Inc. Has $5.16 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Oppenheimer & Co. Inc. cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,766 shares of the information technology services provider's stock after selling 985 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in ServiceNow were worth $5,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% in 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 lifted its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW traded down $28.45 during trading hours on Friday, reaching $1,011.35. 845,290 shares of the company's stock traded hands, compared to its average volume of 1,278,190. The firm has a market capitalization of $208.34 billion, a price-to-earnings ratio of 159.03, a P/E/G ratio of 6.00 and a beta of 0.98. 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 business's fifty day simple moving average is $928.75 and its two-hundred day simple moving average is $821.23. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for 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 firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction 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 sale, the director now owns 42,920 shares of the company's stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock valued at $5,024,928 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. 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 report on Thursday, October 24th. Robert W. Baird boosted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, 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. One research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $974.04.

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.