ServiceNow, Inc. (NYSE:NOW) Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 5.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 726 shares of the information technology services provider’s stock after acquiring an additional 35 shares during the period. Chicago Partners Investment Group LLC’s holdings in ServiceNow were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in shares of ServiceNow by 7.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,250 shares of the information technology services provider’s stock worth $2,907,000 after purchasing an additional 224 shares during the last quarter. Weatherly Asset Management L. P. lifted its holdings in shares of ServiceNow by 14.4% in the 3rd quarter. Weatherly Asset Management L. P. now owns 7,556 shares of the information technology services provider’s stock worth $6,758,000 after purchasing an additional 951 shares during the last quarter. EMC Capital Management raised its stake in ServiceNow by 1,663.1% during the 3rd quarter. EMC Capital Management now owns 20,276 shares of the information technology services provider’s stock valued at $18,135,000 after acquiring an additional 19,126 shares in the last quarter. Americana Partners LLC raised its stake in ServiceNow by 19.2% during the 3rd quarter. Americana Partners LLC now owns 11,134 shares of the information technology services provider’s stock valued at $9,958,000 after acquiring an additional 1,795 shares in the last quarter. Finally, WT Asset Management Ltd bought a new stake in ServiceNow during the 3rd quarter valued at $1,789,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Guggenheim reaffirmed a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Evercore ISI lifted their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup lifted their target price 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. Finally, Robert W. Baird boosted their price objective on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s 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 transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s 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 directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,530 shares of company stock valued at $2,939,955. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.2 %

NYSE:NOW opened at $954.59 on Tuesday. The firm has a market capitalization of $196.65 billion, a price-to-earnings ratio of 148.46, a PEG ratio of 5.35 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $602.45 and a 1-year high of $979.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $899.43 and its 200 day moving average price is $806.07.

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

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.