Oppenheimer Asset Management Inc. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Oppenheimer Asset Management Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,371 shares of the information technology services provider’s stock after buying an additional 198 shares during the quarter. ServiceNow makes up about 1.0% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 13th biggest holding. Oppenheimer Asset Management Inc.’s holdings in ServiceNow were worth $81,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC grew its holdings 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. Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $32,000. Finally, DT Investment Partners LLC increased its position in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.3 %

ServiceNow stock traded down $3.44 during midday trading on Wednesday, hitting $1,044.85. The stock had a trading volume of 117,754 shares, compared to its average volume of 1,275,017. The stock has a market cap of $215.24 billion, a P/E ratio of 163.03, a P/E/G ratio of 5.95 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,053.26. The business has a fifty day moving average price of $920.45 and a 200 day moving average price of $818.12. 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 (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total value of $82,500.00. Following the completion of the sale, the insider now owns 2,994 shares of the company’s stock, valued at approximately $2,470,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,359 shares of company stock worth $5,038,241. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOW. Mizuho raised their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Piper Sandler lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer boosted their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $974.04.

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.