Linscomb Wealth Inc. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Linscomb Wealth Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,502 shares of the information technology services provider’s stock after purchasing an additional 90 shares during the period. Linscomb Wealth Inc.’s holdings in ServiceNow were worth $2,238,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC increased its holdings in 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 valued at $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network boosted its position in shares of 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 buying an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of 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 buying an additional 12 shares during the period. BluePointe Capital Management LLC boosted its position in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares during the period. Finally, Morling Financial Advisors LLC boosted its position in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. KeyCorp upped their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein increased their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Stock Down 2.7 %

NOW opened at $1,011.39 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The stock’s 50 day moving average price is $932.47 and its 200 day moving average price is $823.24.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm 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%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,325 shares of company stock valued at $5,024,928 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.