Moloney Securities Asset Management LLC Purchases 168 Shares of ServiceNow, Inc. (NYSE:NOW)

Moloney Securities Asset Management LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,136 shares of the information technology services provider’s stock after purchasing an additional 168 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in ServiceNow were worth $1,910,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in ServiceNow in the 3rd quarter worth $66,000. PDS Planning Inc grew its stake in shares of ServiceNow by 0.8% in the third quarter. PDS Planning Inc now owns 3,291 shares of the information technology services provider’s stock valued at $2,943,000 after acquiring an additional 25 shares in the last quarter. Leeward Financial Partners LLC raised its position in shares of ServiceNow by 3.7% in the third quarter. Leeward Financial Partners LLC now owns 3,215 shares of the information technology services provider’s stock valued at $2,875,000 after buying an additional 116 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in ServiceNow by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 99,530 shares of the information technology services provider’s stock valued at $89,019,000 after acquiring an additional 2,432 shares in the last quarter. Finally, National Pension Service lifted its position in ServiceNow by 14.8% during the third quarter. National Pension Service now owns 388,583 shares of the information technology services provider’s stock worth $347,545,000 after purchasing an additional 50,043 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW opened at $954.59 on Tuesday. The stock has a market capitalization of $196.65 billion, a P/E ratio of 148.46, a P/E/G ratio of 5.41 and a beta of 0.98. 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 12-month low of $602.45 and a 12-month high of $979.78. The stock has a 50-day moving average price of $899.43 and a 200 day moving average price of $806.07.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NOW shares. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Guggenheim restated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC raised their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their position. 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 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock worth $2,939,955 in the last three months. 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.