Wahed Invest LLC Buys 319 Shares of ServiceNow, Inc. (NYSE:NOW)

Wahed Invest LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,886 shares of the information technology services provider’s stock after acquiring an additional 319 shares during the quarter. ServiceNow makes up about 0.8% of Wahed Invest LLC’s investment portfolio, making the stock its 25th biggest position. Wahed Invest LLC’s holdings in ServiceNow were worth $4,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new position in ServiceNow in the 3rd quarter valued at approximately $30,000. Ridgewood Investments LLC bought a new position in shares of ServiceNow during the second quarter valued at $32,000. DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of ServiceNow during the second quarter valued at $39,000. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the second quarter valued at $39,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now directly owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen increased their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Evercore ISI increased their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp increased their price objective 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. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.64.

ServiceNow Trading Up 0.1 %

NYSE:NOW opened at $1,123.72 on Friday. The company has a fifty day moving average of $977.66 and a 200 day moving average of $855.37. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,130.60. 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 firm has a market capitalization of $231.49 billion, a P/E ratio of 174.76, a P/E/G ratio of 6.07 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. On average, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.