Segment Wealth Management LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Segment Wealth Management LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 39.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 709 shares of the information technology services provider’s stock after buying an additional 200 shares during the quarter. Segment Wealth Management LLC’s holdings in ServiceNow were worth $634,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC grew its holdings in ServiceNow by 1.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,820 shares of the information technology services provider’s stock valued at $3,417,000 after buying an additional 49 shares in the last quarter. Eastern Bank grew its holdings in shares of ServiceNow by 108.1% during the 3rd quarter. Eastern Bank now owns 54,421 shares of the information technology services provider’s stock worth $48,674,000 after purchasing an additional 28,272 shares during the period. Sierra Capital LLC grew its holdings in shares of ServiceNow by 251.5% during the 3rd quarter. Sierra Capital LLC now owns 1,828 shares of the information technology services provider’s stock worth $1,635,000 after purchasing an additional 1,308 shares during the period. Signaturefd LLC grew its holdings in shares of ServiceNow by 11.7% during the 3rd quarter. Signaturefd LLC now owns 3,950 shares of the information technology services provider’s stock worth $3,533,000 after purchasing an additional 414 shares during the period. Finally, Dock Street Asset Management Inc. grew its holdings in shares of ServiceNow by 21.3% during the 3rd quarter. Dock Street Asset Management Inc. now owns 32,049 shares of the information technology services provider’s stock worth $28,664,000 after purchasing an additional 5,621 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NOW shares. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday. Robert W. Baird increased their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Mizuho increased their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. Finally, Barclays raised their target price on ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $927.62.

ServiceNow Price Performance

NOW stock opened at $907.68 on Thursday. The business has a 50 day moving average price of $880.60 and a 200 day moving average price of $795.09. The stock has a market cap of $186.07 billion, a price-to-earnings ratio of 97.08, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by insiders.

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.