ServiceNow, Inc. (NYSE:NOW) Stock Position Raised by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 23.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,508 shares of the information technology services provider’s stock after purchasing an additional 17,382 shares during the period. Cerity Partners LLC’s holdings in ServiceNow were worth $81,843,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its position in shares of ServiceNow by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,154 shares of the information technology services provider’s stock worth $7,293,000 after purchasing an additional 76 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in ServiceNow by 39.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,014 shares of the information technology services provider’s stock valued at $903,000 after buying an additional 289 shares during the period. Leelyn Smith LLC lifted its position in ServiceNow by 2.3% in the 3rd quarter. Leelyn Smith LLC now owns 2,506 shares of the information technology services provider’s stock worth $2,241,000 after buying an additional 56 shares in the last quarter. Stonebrook Private Inc. boosted its stake in shares of ServiceNow by 7.5% during the 3rd quarter. Stonebrook Private Inc. now owns 515 shares of the information technology services provider’s stock valued at $461,000 after buying an additional 36 shares during the period. Finally, Meridian Wealth Management LLC grew its holdings in shares of ServiceNow by 6.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 3,151 shares of the information technology services provider’s stock valued at $2,818,000 after acquiring an additional 202 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE NOW opened at $1,060.60 on Friday. The company’s fifty day moving average is $948.53 and its two-hundred day moving average is $835.49. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,064.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $218.48 billion, a price-to-earnings ratio of 164.95, a P/E/G ratio of 6.01 and a beta of 0.98.

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 analysts’ consensus estimates 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 return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $1.21 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho increased their price objective on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JMP Securities lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,644 shares of company stock valued at $19,381,744. 0.25% of the stock is owned by corporate insiders.

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.