Farther Finance Advisors LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Farther Finance Advisors LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,250 shares of the information technology services provider’s stock after purchasing an additional 224 shares during the quarter. Farther Finance Advisors LLC’s holdings in ServiceNow were worth $2,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. M&G Plc purchased a new position in shares of ServiceNow in the first quarter worth about $11,030,000. AXA S.A. increased its stake in ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. HWG Holdings LP bought a new stake in ServiceNow in the second quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in shares of ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 56 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares in the company, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,530 shares of company stock worth $2,939,955 in the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Canaccord Genuity Group increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Truist Financial upped their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. UBS Group increased their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Trading Up 1.1 %

ServiceNow stock opened at $943.41 on Friday. ServiceNow, Inc. has a 12 month low of $592.48 and a 12 month high of $979.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $896.89 and its two-hundred day simple moving average is $804.01. The company has a market capitalization of $194.34 billion, a price-to-earnings ratio of 146.72, a price-to-earnings-growth ratio of 5.35 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 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’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. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

About ServiceNow

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.