Hennion & Walsh Asset Management Inc. Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 70.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,635 shares of the information technology services provider’s stock after acquiring an additional 2,746 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ServiceNow were worth $5,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. First Affirmative Financial Network raised its holdings in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the period. CX Institutional lifted its holdings in ServiceNow by 1.2% in the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after buying an additional 13 shares during the period. Optas LLC boosted its position in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its holdings in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 1.1 %

NOW opened at $907.68 on Thursday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $880.60 and a 200-day moving average price of $795.09. The stock has a market capitalization of $186.07 billion, a price-to-earnings ratio of 97.08, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group increased their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group upped their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $943.58.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 over the last 90 days. Company insiders own 0.25% of the company’s stock.

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.