BluePointe Capital Management LLC Purchases 12 Shares of ServiceNow, Inc. (NYSE:NOW)

BluePointe Capital Management LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014 shares of the information technology services provider’s stock after acquiring an additional 12 shares during the period. ServiceNow makes up 1.2% of BluePointe Capital Management LLC’s portfolio, making the stock its 27th biggest holding. BluePointe Capital Management LLC’s holdings in ServiceNow were worth $1,801,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.8% in the first 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 buying an additional 331,797 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of ServiceNow by 2.3% in the second 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 buying an additional 34,855 shares during the period. Swedbank AB lifted its stake in shares of ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the period. International Assets Investment Management LLC raised its position 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 worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in ServiceNow by 21.5% in the second quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after purchasing an additional 168,734 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,325 shares of company stock valued at $5,024,928. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $1,039.74 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The stock has a market cap of $214.19 billion, a PE ratio of 161.70, a PEG ratio of 6.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50 day moving average price is $924.67 and its two-hundred day moving average price is $819.71.

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

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Sanford C. Bernstein increased their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. KeyCorp increased their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets increased their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $974.04.

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.