Janney Montgomery Scott LLC Buys Shares of 54,890 ServiceNow, Inc. (NYSE:NOW)

Janney Montgomery Scott LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, Holdings Channel reports. The fund purchased 54,890 shares of the information technology services provider’s stock, valued at approximately $49,093,000.

Several other institutional investors have also modified their holdings of NOW. Lincoln National Corp grew its position in shares of ServiceNow by 6.3% during the first quarter. Lincoln National Corp now owns 3,587 shares of the information technology services provider’s stock worth $2,735,000 after acquiring an additional 214 shares during the last quarter. Quent Capital LLC grew its position in shares of ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in shares of ServiceNow by 36.7% during the first quarter. Mutual Advisors LLC now owns 3,178 shares of the information technology services provider’s stock worth $2,423,000 after acquiring an additional 853 shares during the last quarter. Smith Salley Wealth Management bought a new position in shares of ServiceNow during the first quarter worth about $302,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of ServiceNow by 91.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,926 shares of the information technology services provider’s stock worth $16,716,000 after acquiring an additional 10,467 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.1 %

Shares of ServiceNow stock opened at $943.41 on Monday. The stock has a market capitalization of $194.34 billion, a P/E ratio of 146.72, a PEG ratio of 5.35 and a beta of 0.98. 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 50 day moving average price of $896.89 and a two-hundred day moving average price of $804.49. ServiceNow, Inc. has a 12-month low of $592.48 and a 12-month high of $979.78.

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, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents 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 this hyperlink. In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on 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 owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The trade was 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 sold 3,530 shares of company stock valued at $2,939,955. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Oppenheimer increased their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

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.