ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Essex Savings Bank

Essex Savings Bank lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 622 shares of the information technology services provider’s stock after purchasing an additional 39 shares during the period. Essex Savings Bank’s holdings in ServiceNow were worth $659,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of ServiceNow by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after purchasing an additional 39,984 shares during the period. Sargent Investment Group LLC acquired a new stake in ServiceNow in the second quarter worth $205,000. Bradley Foster & Sargent Inc. CT acquired a new position in shares of ServiceNow during the second quarter valued at $256,000. Wealth Alliance boosted its holdings in shares of ServiceNow by 6.9% during the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock valued at $747,000 after acquiring an additional 61 shares during the period. Finally, Andar Capital Management HK Ltd grew its position in shares of ServiceNow by 35.0% during the second quarter. Andar Capital Management HK Ltd now owns 5,400 shares of the information technology services provider’s stock worth $4,248,000 after acquiring an additional 1,400 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,054.99 on Thursday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $217.33 billion, a P/E ratio of 164.07, a P/E/G ratio of 4.65 and a beta of 0.99. The business’s 50 day moving average is $1,066.34 and its two-hundred day moving average is $927.52.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on NOW shares. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein increased their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen upped their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Oppenheimer raised their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,276 shares of company stock worth $20,535,115 over the last three months. Company insiders own 0.25% of the company’s stock.

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.