Mission Creek Capital Partners Inc. Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Mission Creek Capital Partners Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,379 shares of the information technology services provider’s stock after acquiring an additional 26 shares during the period. Mission Creek Capital Partners Inc.’s holdings in ServiceNow were worth $2,128,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NOW. AXA S.A. raised its stake in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC grew its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares during the period. HWG Holdings LP purchased a new stake in ServiceNow during the second quarter valued at about $2,679,000. Finally, Brookstone Capital Management raised its holdings in shares of ServiceNow by 25.5% in the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.8 %

Shares of NYSE NOW opened at $1,056.62 on Wednesday. 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 50 day moving average price is $968.22 and its two-hundred day moving average price is $851.60. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The stock has a market capitalization of $217.66 billion, a P/E ratio of 164.33, a PEG ratio of 6.02 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business 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%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. Piper Sandler boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective 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. Mizuho raised their target price on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $999.07.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,629 shares of company stock valued at $20,861,626. Company 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.