Custom Index Systems LLC Buys Shares of 586 ServiceNow, Inc. (NYSE:NOW)

Custom Index Systems LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the third quarter, HoldingsChannel.com reports. The fund purchased 586 shares of the information technology services provider’s stock, valued at approximately $524,000.

A number of other large investors also recently modified their holdings of NOW. International Assets Investment Management LLC boosted its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Swedbank AB acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $897,908,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in ServiceNow during the 2nd quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC grew its stake in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’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 transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated 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 completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NOW shares. Guggenheim reissued a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Piper Sandler boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI raised their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC increased their price objective on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Price Performance

Shares of NOW traded down $5.73 during trading hours on Friday, hitting $950.85. 1,494,753 shares of the company were exchanged, compared to its average volume of 1,286,547. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $195.88 billion, a PE ratio of 171.94, a PEG ratio of 5.04 and a beta of 0.99. The firm has a fifty day simple moving average of $885.56 and a 200-day simple moving average of $797.46. ServiceNow, Inc. has a one year low of $548.44 and a one year high of $979.78.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

About ServiceNow

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.