Heritage Investors Management Corp Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Heritage Investors Management Corp cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,212 shares of the information technology services provider’s stock after selling 20 shares during the quarter. Heritage Investors Management Corp’s holdings in ServiceNow were worth $20,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Catalyst Financial Partners LLC boosted its stake in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network boosted its stake in ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its stake in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares in the last quarter. Finally, CX Institutional lifted its stake in ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NOW shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup upped their price target 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, Oppenheimer upped their price target 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. One 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Price Performance

Shares of NOW traded up $17.20 during trading hours on Tuesday, hitting $971.79. 45,862 shares of the stock were exchanged, compared to its average volume of 1,277,848. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 12-month low of $602.45 and a 12-month high of $979.78. The company has a market cap of $200.19 billion, a price-to-earnings ratio of 148.46, a price-to-earnings-growth ratio of 5.41 and a beta of 0.98. The stock’s 50-day moving average price is $899.43 and its two-hundred day moving average price is $806.07.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,530 shares of company stock valued at $2,939,955. Corporate insiders own 0.25% of the company’s stock.

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.