Virtu Financial LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Virtu Financial LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,994 shares of the information technology services provider's stock, valued at approximately $9,833,000. ServiceNow accounts for about 0.5% of Virtu Financial LLC's investment portfolio, making the stock its 22nd biggest position.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the third quarter worth approximately $30,000. Ridgewood Investments LLC bought a new stake in ServiceNow during the second quarter worth $32,000. DT Investment Partners LLC raised its position in 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 buying an additional 17 shares during the last quarter. American Capital Advisory LLC bought a new position in ServiceNow during the 2nd quarter valued at $39,000. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow in the 2nd quarter worth $39,000. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOW shares. Evercore ISI raised their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. StockNews.com raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Truist Financial lifted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a report on Thursday. Finally, Robert W. Baird upped their price objective on ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,029.78.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE NOW traded up $1.30 on Thursday, hitting $1,148.48. The stock had a trading volume of 432,896 shares, compared to its average volume of 1,278,309. The firm has a 50-day moving average of $997.59 and a 200-day moving average of $866.27. The company has a market capitalization of $236.59 billion, a price-to-earnings ratio of 178.67, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. 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 52-week low of $637.99 and a 52-week high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current 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.