Segall Bryant & Hamill LLC Has $56.72 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Segall Bryant & Hamill LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 67.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,417 shares of the information technology services provider's stock after acquiring an additional 25,531 shares during the quarter. ServiceNow accounts for about 0.8% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 14th largest holding. Segall Bryant & Hamill LLC's holdings in ServiceNow were worth $56,720,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock valued at $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after buying an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the third 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 currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,867 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the completion of the sale, the general counsel now directly owns 6,843 shares of the company's stock, valued at approximately $7,007,026.71. The trade was a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm's stock in a transaction dated 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 in the company, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,373 shares of company stock worth $7,139,335. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. Needham & Company LLC raised their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their target price on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Barclays upped their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a research note 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, Oppenheimer boosted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $986.39.

ServiceNow Price Performance

Shares of NYSE NOW traded down $11.93 during mid-day trading on Wednesday, hitting $1,010.17. 359,215 shares of the stock were exchanged, compared to its average volume of 1,281,565. The company has a market cap of $208.10 billion, a P/E ratio of 158.97, a PEG ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The stock's fifty day simple moving average is $938.70 and its two-hundred day simple moving average is $829.46.

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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.