Catalina Capital Group LLC Acquires 145 Shares of ServiceNow, Inc. (NYSE:NOW)

Catalina Capital Group LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 25.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 713 shares of the information technology services provider’s stock after buying an additional 145 shares during the period. Catalina Capital Group LLC’s holdings in ServiceNow were worth $638,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares in the last quarter. NorthRock Partners LLC increased its stake in ServiceNow by 8.4% in the 3rd quarter. NorthRock Partners LLC now owns 673 shares of the information technology services provider’s stock worth $602,000 after buying an additional 52 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in ServiceNow by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 10,554 shares of the information technology services provider’s stock valued at $9,439,000 after acquiring an additional 46 shares during the period. Arthur M. Cohen & Associates LLC lifted its position in shares of ServiceNow by 1.0% in the third quarter. Arthur M. Cohen & Associates LLC now owns 1,458 shares of the information technology services provider’s stock valued at $1,264,000 after acquiring an additional 15 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of ServiceNow by 0.4% in the third quarter. Pittenger & Anderson Inc. now owns 31,452 shares of the information technology services provider’s stock worth $28,130,000 after acquiring an additional 124 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial boosted their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Mizuho upped their target price on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird raised their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup raised their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI upped their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was 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 owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,530 shares of company stock valued at $2,939,955. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $971.47 on Wednesday. ServiceNow, Inc. has a 12-month low of $602.45 and a 12-month high of $979.78. The firm’s fifty day simple moving average is $902.22 and its two-hundred day simple moving average is $807.88. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $200.12 billion, a P/E ratio of 151.08, a P/E/G ratio of 5.41 and a beta of 0.98.

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, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.