ServiceNow, Inc. (NYSE:NOW) Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,080 shares of the information technology services provider’s stock after buying an additional 160 shares during the period. AlphaCore Capital LLC’s holdings in ServiceNow were worth $966,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC boosted its position in ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of ServiceNow during the 1st quarter valued at about $210,000. EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% in the first 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. CreativeOne Wealth LLC grew its holdings in ServiceNow by 81.8% during the first quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock worth $488,000 after acquiring an additional 288 shares during the period. Finally, Advisors Asset Management Inc. raised its position in ServiceNow by 22.5% during the first quarter. Advisors Asset Management Inc. now owns 7,905 shares of the information technology services provider’s stock valued at $6,027,000 after acquiring an additional 1,453 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada upped their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Oppenheimer raised their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,644 shares of company stock worth $19,381,744 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 2.5 %

Shares of NOW stock opened at $1,048.34 on Friday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The company has a 50 day moving average price of $944.90 and a 200 day moving average price of $832.32. The stock has a market capitalization of $215.96 billion, a P/E ratio of 163.04, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.