Sheaff Brock Investment Advisors LLC Increases Position in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Sheaff Brock Investment Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 574 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in ServiceNow were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the 1st 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 acquired a new stake in ServiceNow in the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC boosted its holdings 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 worth $35,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 2.7 %

NYSE NOW opened at $1,011.39 on Friday. The stock has a market capitalization of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The firm has a 50-day moving average price of $932.47 and a 200 day moving average price of $823.24. 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 (NYSE:NOW – Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the 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 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 disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock valued at $5,024,928 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JMP Securities boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Robert W. Baird upped their price objective on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Get Our Latest Analysis on ServiceNow

ServiceNow Profile

(Free Report)

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.

Further Reading

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