ServiceNow, Inc. (NYSE:NOW) Stake Increased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,479 shares of the information technology services provider's stock after buying an additional 515 shares during the period. Motley Fool Asset Management LLC's holdings in ServiceNow were worth $8,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. CGN Advisors LLC bought a new position in ServiceNow in the 2nd quarter worth approximately $1,031,000. Valeo Financial Advisors LLC grew its position in shares of ServiceNow by 1.8% in the second quarter. Valeo Financial Advisors LLC now owns 2,053 shares of the information technology services provider's stock valued at $1,615,000 after purchasing an additional 36 shares in the last quarter. Csenge Advisory Group lifted its holdings in ServiceNow by 8.3% during the 2nd quarter. Csenge Advisory Group now owns 860 shares of the information technology services provider's stock worth $677,000 after purchasing an additional 66 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in ServiceNow by 441.0% during the second quarter. Salem Investment Counselors Inc. now owns 4,101 shares of the information technology services provider's stock valued at $3,226,000 after purchasing an additional 3,343 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI increased their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $999.07.

ServiceNow Stock Up 6.2 %

NOW stock traded up $65.81 during midday trading on Wednesday, hitting $1,123.13. The company's stock had a trading volume of 2,055,817 shares, compared to its average volume of 1,281,635. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,126.63. The firm has a market capitalization of $231.36 billion, a P/E ratio of 164.33, a PEG ratio of 6.02 and a beta of 0.99. The firm has a 50-day simple moving average of $968.22 and a 200-day simple moving average of $851.60.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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. The business 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares of the company's stock, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,629 shares of company stock valued at $20,861,626. 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.