ServiceNow, Inc. (NYSE:NOW) Position Lessened by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 25.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,234 shares of the information technology services provider’s stock after selling 3,213 shares during the quarter. ServiceNow comprises approximately 4.1% of Brown Shipley& Co Ltd’s portfolio, making the stock its 9th biggest position. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $8,259,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Catalyst Financial Partners LLC raised its position in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares in the last quarter. First Affirmative Financial Network grew its stake in ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the period. Capital Advisors Ltd. LLC raised its holdings in ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. BluePointe Capital Management LLC lifted its position in ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares during the period. Finally, Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird boosted their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. 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 over the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,041.42 on Thursday. The company has a 50-day moving average price of $958.40 and a 200-day moving average price of $842.41. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $214.53 billion, a P/E ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted 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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share 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.