Arcadia Investment Management Corp MI Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Arcadia Investment Management Corp MI lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,323 shares of the information technology services provider’s stock after selling 124 shares during the quarter. ServiceNow accounts for 2.0% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 18th biggest holding. Arcadia Investment Management Corp MI’s holdings in ServiceNow were worth $11,916,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the period. Bank of New York Mellon Corp boosted its holdings in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the period. Swedbank AB boosted its holdings in ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% during the 3rd 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. Finally, Ameriprise Financial Inc. boosted its holdings in ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOW. UBS Group boosted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Oppenheimer upped their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Needham & Company LLC upped their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,530 shares of company stock valued at $2,939,955. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.1 %

Shares of NYSE:NOW opened at $943.41 on Friday. The business’s 50-day moving average is $896.89 and its 200 day moving average is $804.01. ServiceNow, Inc. has a 1 year low of $592.48 and a 1 year high of $979.78. The firm has a market capitalization of $194.34 billion, a P/E ratio of 146.72, a P/E/G ratio of 5.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its 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 company had revenue of $2.80 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. On average, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.