ServiceNow, Inc. (NYSE:NOW) Shares Bought by Circle Wealth Management LLC

Circle Wealth Management LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 106.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,697 shares of the information technology services provider’s stock after buying an additional 1,393 shares during the period. Circle Wealth Management LLC’s holdings in ServiceNow were worth $2,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC increased its position in ServiceNow by 1.0% during 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 grew its holdings in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after buying an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares during the last quarter. BluePointe Capital Management LLC lifted its stake in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares during the period. Finally, Morling Financial Advisors LLC grew 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 acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,050.62 on Friday. The stock has a market capitalization of $216.43 billion, a P/E ratio of 163.39, a P/E/G ratio of 5.98 and a beta of 0.98. The firm’s 50-day moving average price is $963.10 and its two-hundred day moving average price is $846.02. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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, beating 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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NOW shares. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup raised their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial lifted their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Finally, Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $989.07.

Insider Activity at ServiceNow

In other news, 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 owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock worth $20,547,241 in the last ninety days. 0.25% of the stock is owned by 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.