Truvestments Capital LLC Invests $30,000 in ServiceNow, Inc. (NYSE:NOW)

Truvestments Capital LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 33 shares of the information technology services provider’s stock, valued at approximately $30,000.

Several other large investors have also bought and sold shares of the company. Versant Capital Management Inc grew its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter worth $32,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the period. American Capital Advisory LLC purchased a new stake in ServiceNow during the second quarter valued at $39,000. Finally, Semmax Financial Advisors Inc. bought a new position in ServiceNow in the second quarter valued at about $39,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. TD Cowen boosted their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. BMO Capital Markets upped their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,041.40 on Friday. The firm has a fifty day simple moving average of $960.84 and a two-hundred day simple moving average of $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. The stock 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, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 company 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 firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is currently owned by 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.