Paladin Wealth LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Paladin Wealth LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 683 shares of the information technology services provider’s stock, valued at approximately $611,000.

A number of other hedge funds have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in ServiceNow by 14.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 729 shares of the information technology services provider’s stock valued at $652,000 after purchasing an additional 94 shares during the last quarter. Thomasville National Bank lifted its holdings in shares of ServiceNow by 9.3% in the third quarter. Thomasville National Bank now owns 15,305 shares of the information technology services provider’s stock valued at $13,689,000 after purchasing an additional 1,307 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of ServiceNow by 1,929.2% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,409 shares of the information technology services provider’s stock valued at $3,049,000 after buying an additional 3,241 shares during the last quarter. CVA Family Office LLC grew its holdings in ServiceNow by 4.9% during the third quarter. CVA Family Office LLC now owns 552 shares of the information technology services provider’s stock worth $494,000 after buying an additional 26 shares in the last quarter. Finally, Willner & Heller LLC purchased a new stake in ServiceNow in the 3rd quarter valued at $322,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. JMP Securities increased their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler upped their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, KeyCorp dropped their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $880.04.

ServiceNow Trading Up 0.9 %

Shares of ServiceNow stock opened at $947.02 on Monday. The company’s 50-day moving average price is $861.16 and its 200-day moving average price is $786.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.00. The company has a market cap of $194.14 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents 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 accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. Company insiders own 0.25% of the company’s stock.

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.