ServiceNow, Inc. (NYSE:NOW) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121 shares of the information technology services provider’s stock after purchasing an additional 24 shares during the period. Meeder Asset Management Inc.’s holdings in ServiceNow were worth $108,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares in the last quarter. First Affirmative Financial Network raised its holdings in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC lifted 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 valued at $84,000 after purchasing an additional 12 shares during the last quarter. BluePointe Capital Management LLC boosted its holdings in ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC increased its position in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. KeyCorp boosted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

Insider Activity at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the company’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 transaction of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,373 shares of company stock worth $7,139,335. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $1,022.98 on Thursday. The stock has a 50-day simple moving average of $941.65 and a 200 day simple moving average of $830.81. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. 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 $210.73 billion, a price-to-earnings ratio of 159.10, a P/E/G ratio of 5.80 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 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share 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.