AlphaCore Capital LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

AlphaCore Capital LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 17.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,080 shares of the information technology services provider’s stock after purchasing an additional 160 shares during the quarter. AlphaCore Capital LLC’s holdings in ServiceNow were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the last quarter. Edgestream Partners L.P. acquired a new position in ServiceNow in the 1st quarter valued at about $210,000. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. CreativeOne Wealth LLC lifted its position in ServiceNow by 81.8% during the 1st quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock worth $488,000 after acquiring an additional 288 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of ServiceNow by 22.5% in the 1st quarter. Advisors Asset Management Inc. now owns 7,905 shares of the information technology services provider’s stock valued at $6,027,000 after purchasing an additional 1,453 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $1,048.34 on Friday. The business has a 50-day moving average of $944.90 and a two-hundred day moving average of $832.32. The firm has a market capitalization of $215.96 billion, a PE ratio of 163.04, a P/E/G ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. 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 released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NOW shares. Sanford C. Bernstein lifted their price objective 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 boosted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley lowered shares of 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 research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

Insiders Place Their Bets

In other news, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now owns 3,457 shares in the company, valued at $3,539,864.29. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,644 shares of company stock worth $19,381,744 over the last quarter. 0.25% of the stock is owned by corporate insiders.

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.