Independent Advisor Alliance Has $6.05 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Independent Advisor Alliance lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,769 shares of the information technology services provider’s stock after acquiring an additional 957 shares during the period. Independent Advisor Alliance’s holdings in ServiceNow were worth $6,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. EntryPoint Capital LLC lifted its position in 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 purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter worth $32,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOW. Evercore ISI upped 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. Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. KeyCorp lifted their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

Insider Activity

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,787 shares of company stock valued at $17,841,028 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.3 %

NYSE:NOW opened at $1,060.60 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,064.59. The firm has a market capitalization of $218.48 billion, a price-to-earnings ratio of 164.95, a PEG ratio of 6.09 and a beta of 0.98. The business’s 50-day moving average price is $948.53 and its two-hundred day moving average price is $836.29.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for 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%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow 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.