Oppenheimer & Co. Inc. Decreases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Oppenheimer & Co. Inc. cut its position in ServiceNow, Inc. (NYSE:NOW) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,766 shares of the information technology services provider’s stock after selling 985 shares during the period. Oppenheimer & Co. Inc.’s holdings in ServiceNow were worth $5,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 28 shares during the last quarter. DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the 3rd 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 in the last quarter. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,325 shares of company stock valued at $5,024,928. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NOW shares. Royal Bank of Canada boosted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

ServiceNow Trading Down 0.6 %

NOW opened at $1,039.74 on Friday. The business has a fifty day moving average price of $924.67 and a 200 day moving average price of $819.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The stock has a market capitalization of $214.19 billion, a price-to-earnings ratio of 161.70, a PEG ratio of 6.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during 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 business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal 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.