ServiceNow, Inc. (NYSE:NOW) Shares Acquired by MWA Asset Management

MWA Asset Management lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,402 shares of the information technology services provider’s stock after acquiring an additional 149 shares during the period. MWA Asset Management’s holdings in ServiceNow were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc increased its stake in ServiceNow by 466.7% in the 2nd 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 in the last quarter. DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the second quarter valued at $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,022.19 on Wednesday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The stock has a market capitalization of $210.57 billion, a price-to-earnings ratio of 158.97, a PEG ratio of 5.80 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $938.70 and its 200 day simple moving average is $829.46.

ServiceNow (NYSE:NOW) last released its earnings results 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 the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Robert W. Baird boosted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Needham & Company LLC boosted their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,373 shares of company stock worth $7,139,335. 0.25% of the stock is owned by corporate insiders.

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.