L & S Advisors Inc Acquires 8,740 Shares of ServiceNow, Inc. (NYSE:NOW)

L & S Advisors Inc increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 265.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,032 shares of the information technology services provider’s stock after acquiring an additional 8,740 shares during the quarter. ServiceNow makes up about 1.1% of L & S Advisors Inc’s holdings, making the stock its 20th largest position. L & S Advisors Inc’s holdings in ServiceNow were worth $10,761,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares in the last quarter. AXA S.A. grew its position in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares in the last quarter. HWG Holdings LP bought a new stake in ServiceNow during the second quarter worth about $2,679,000. Finally, Brookstone Capital Management lifted its stake in ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after purchasing an additional 2,928 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JMP Securities boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank started coverage on ServiceNow in a report on Tuesday. They set a “sector outperform” rating and a $1,230.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $986.39.

ServiceNow Trading Up 0.7 %

ServiceNow stock opened at $1,030.00 on Thursday. The stock has a 50-day moving average of $941.65 and a two-hundred day moving average of $830.81. 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 one year low of $637.99 and a one year high of $1,061.66. The stock has a market cap of $212.18 billion, a PE ratio of 159.10, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the transaction, the insider now owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This represents a 2.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 7,373 shares of company stock valued at $7,139,335. 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.