West Family Investments Inc. Acquires 78 Shares of ServiceNow, Inc. (NYSE:NOW)

West Family Investments Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 663 shares of the information technology services provider’s stock after purchasing an additional 78 shares during the period. West Family Investments Inc.’s holdings in ServiceNow were worth $593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. International Assets Investment Management LLC grew its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. Swedbank AB purchased a new position in shares of ServiceNow in the first quarter valued at about $897,908,000. AustralianSuper Pty Ltd purchased a new position in ServiceNow during the 2nd quarter valued at approximately $218,786,000. Canada Pension Plan Investment Board boosted its holdings in shares of ServiceNow by 59.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock worth $500,258,000 after purchasing an additional 237,086 shares during the period. Finally, abrdn plc boosted its holdings in ServiceNow by 110.2% during the 3rd quarter. abrdn plc now owns 442,382 shares of the information technology services provider’s stock valued at $392,477,000 after acquiring an additional 231,900 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $1,005.34 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $207.10 billion, a PE ratio of 156.35, a P/E/G ratio of 5.80 and a beta of 0.98. The firm has a 50-day simple moving average of $935.45 and a two-hundred day simple moving average of $827.30. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Scotiabank began coverage on ServiceNow in a research report on Tuesday. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $900.00 to $960.00 in a research note on Monday, October 21st. Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Mizuho upped their price target on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Needham & Company LLC increased their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $986.39.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s 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 sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,231 shares of company stock worth $4,947,292. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Company Profile

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.