Great Valley Advisor Group Inc. Buys 76 Shares of ServiceNow, Inc. (NYSE:NOW)

Great Valley Advisor Group Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% in the third quarter, Holdings Channel reports. The fund owned 8,154 shares of the information technology services provider’s stock after acquiring an additional 76 shares during the period. Great Valley Advisor Group Inc.’s holdings in ServiceNow were worth $7,293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Creekmur Asset Management LLC bought a new position in ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $32,000. Finally, DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the 3rd 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 last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the 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 sale, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,644 shares of company stock valued at $19,381,744 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.3 %

NYSE:NOW opened at $1,060.60 on Friday. The stock has a 50-day moving average price of $948.53 and a two-hundred day moving average price of $835.49. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,064.59. 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 stock has a market cap of $218.48 billion, a price-to-earnings ratio of 164.95, a PEG ratio of 6.01 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. Truist Financial lifted their price objective on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. Canaccord Genuity Group raised their price objective 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. Royal Bank of Canada boosted their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

ServiceNow 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.