Financial Management Professionals Inc. Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Financial Management Professionals Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 76.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67 shares of the information technology services provider’s stock after buying an additional 29 shares during the period. Financial Management Professionals Inc.’s holdings in ServiceNow were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of ServiceNow by 1.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 416,444 shares of the information technology services provider’s stock worth $367,151,000 after buying an additional 6,481 shares in the last quarter. Modera Wealth Management LLC purchased a new position in shares of ServiceNow in the 3rd quarter worth $244,000. GHP Investment Advisors Inc. grew its stake in shares of ServiceNow by 108.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 192 shares of the information technology services provider’s stock worth $172,000 after buying an additional 100 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of ServiceNow by 41.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 906 shares of the information technology services provider’s stock worth $810,000 after buying an additional 267 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $950.85 on Monday. ServiceNow, Inc. has a 52 week low of $548.44 and a 52 week high of $979.78. The firm has a 50 day moving average of $885.56 and a 200 day moving average of $797.66. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $194.92 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.41 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred 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 owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 over the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NOW. Needham & Company LLC upped their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays upped their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

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.