Harbour Investments Inc. Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Harbour Investments Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 14.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269 shares of the information technology services provider’s stock after purchasing an additional 33 shares during the period. Harbour Investments Inc.’s holdings in ServiceNow were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 39.4% during 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 increased its holdings in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares during the last quarter. AXA S.A. raised its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the period. HWG Holdings LP acquired a new position in ServiceNow during the second quarter worth $2,679,000. Finally, Brookstone Capital Management boosted its position in shares of ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after buying an additional 2,928 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction 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. The trade was a 33.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,231 shares of company stock worth $4,947,292 over the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

ServiceNow stock opened at $1,011.39 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,061.66. The firm has a 50 day moving average price of $932.47 and a 200 day moving average price of $825.13.

ServiceNow (NYSE:NOW) last released 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 prior year, the firm posted $1.21 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price objective 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. Citigroup upped their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. BMO Capital Markets raised their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Piper Sandler increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $974.04.

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.