Claro Advisors LLC Has $1.07 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Claro Advisors LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 31.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,195 shares of the information technology services provider’s stock after buying an additional 288 shares during the period. Claro Advisors LLC’s holdings in ServiceNow were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares in the last quarter. Swedbank AB lifted its position in shares of ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after buying an additional 120,983 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after buying an additional 168,734 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of ServiceNow by 1.8% during the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after buying an additional 11,979 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 2.7 %

NOW opened at $1,011.39 on Monday. The company has a fifty day moving average price of $932.47 and a 200-day moving average price of $825.13. The firm has a market capitalization of $208.35 billion, a P/E ratio of 157.29, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66.

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

Analysts Set New Price Targets

Several research firms have commented on NOW. KeyCorp lifted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. UBS Group lifted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were 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 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,231 shares of company stock worth $4,947,292. Corporate 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.