Vaughan Nelson Investment Management L.P. Buys 45,099 Shares of ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,164 shares of the information technology services provider's stock after purchasing an additional 45,099 shares during the quarter. ServiceNow makes up about 1.6% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 12th largest position. Vaughan Nelson Investment Management L.P. owned 0.10% of ServiceNow worth $183,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its position 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 acquiring an additional 28 shares during the period. EntryPoint Capital LLC raised its stake in 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 acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the second quarter valued at $32,000. Finally, DT Investment Partners LLC boosted its stake 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 purchasing an additional 17 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NOW shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. StockNews.com upgraded ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $974.04.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction that occurred 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 transaction, the director now directly owns 42,920 shares in the company, 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. Over the last ninety days, insiders sold 5,325 shares of company stock valued at $5,024,928. Corporate insiders own 0.25% of the company's stock.

ServiceNow Trading Down 2.7 %

NYSE NOW traded down $28.41 during trading hours on Friday, hitting $1,011.39. 1,498,472 shares of the company's stock were exchanged, compared to its average volume of 1,366,353. The firm has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98. The stock has a 50-day simple moving average of $932.47 and a 200 day simple moving average of $824.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 EPS. The company's quarterly revenue was up 22.2% on a year-over-year basis. On average, equities 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.