ServiceNow, Inc. (NYSE:NOW) Shares Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 72.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 740 shares of the information technology services provider’s stock after acquiring an additional 312 shares during the quarter. Freedom Investment Management Inc.’s holdings in ServiceNow were worth $662,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NOW. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC raised its position in shares of ServiceNow by 36.4% during 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 buying an additional 765 shares during the period. AXA S.A. lifted its holdings 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 acquiring an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in shares of ServiceNow in the 2nd quarter valued at $2,679,000. Finally, Brookstone Capital Management lifted its position in ServiceNow by 25.5% in the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after buying an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the completion of the sale, the general counsel now owns 6,843 shares in the company, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was 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 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. Over the last quarter, insiders sold 20,329 shares of company stock worth $20,547,241. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. JMP Securities increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, Evercore ISI lifted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

ServiceNow Trading Down 2.7 %

NOW opened at $1,041.40 on Friday. The firm has a market cap of $214.53 billion, a price-to-earnings ratio of 161.96, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84. The business’s 50 day moving average is $960.84 and its two-hundred day moving average is $843.79. 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 announced 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 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current 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.