Financial Counselors Inc. Buys 494 Shares of ServiceNow, Inc. (NYSE:NOW)

Financial Counselors Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,825 shares of the information technology services provider’s stock after buying an additional 494 shares during the quarter. Financial Counselors Inc.’s holdings in ServiceNow were worth $22,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Versant Capital Management Inc lifted its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of ServiceNow in the third quarter valued at approximately $30,000. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $32,000. DT Investment Partners LLC lifted its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. Finally, American Capital Advisory LLC bought a new position in ServiceNow in the 2nd quarter valued at $39,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,329 shares of company stock valued at $20,547,241 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $1,041.42 on Thursday. The business has a 50-day simple moving average of $958.40 and a 200 day simple moving average of $842.41. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84. The stock has a market cap of $214.53 billion, a price-to-earnings ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98. 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 (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on NOW. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird lifted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. UBS Group upped their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Truist Financial boosted their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. 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 issued a strong buy rating to the company. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $989.07.

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.