Heritage Investors Management Corp Sells 20 Shares of ServiceNow, Inc. (NYSE:NOW)

Heritage Investors Management Corp lessened its position in ServiceNow, Inc. (NYSE:NOW) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,212 shares of the information technology services provider’s stock after selling 20 shares during the period. Heritage Investors Management Corp’s holdings in ServiceNow were worth $20,761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% during 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 lifted its stake in shares of ServiceNow by 3,900.0% during 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 shares of ServiceNow during the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC lifted its stake in shares of ServiceNow by 77.3% during 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. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW traded up $17.20 during trading on Tuesday, hitting $971.79. 45,862 shares of the company traded hands, compared to its average volume of 1,277,848. The firm has a market cap of $200.19 billion, a P/E ratio of 148.46, a price-to-earnings-growth ratio of 5.41 and a beta of 0.98. The stock’s fifty day moving average is $899.43 and its 200 day moving average is $806.07. 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, Inc. has a one year low of $602.45 and a one year high of $979.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 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 quarter in the prior year, the business earned $1.21 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This represents 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. In other ServiceNow news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,530 shares of company stock worth $2,939,955 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. Wells Fargo & Company raised their target price on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus lifted their price objective 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

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.