Allspring Global Investments Holdings LLC Purchases 19,385 Shares of ServiceNow, Inc. (NYSE:NOW)

Allspring Global Investments Holdings LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 313,361 shares of the information technology services provider’s stock after purchasing an additional 19,385 shares during the period. Allspring Global Investments Holdings LLC owned 0.15% of ServiceNow worth $280,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. &PARTNERS bought a new position in shares of ServiceNow in the first quarter worth $622,000. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 3.1% in the first quarter. International Assets Investment Management LLC now owns 1,199 shares of the information technology services provider’s stock worth $921,000 after acquiring an additional 36 shares during the period. Ballentine Partners LLC boosted its holdings in shares of ServiceNow by 11.1% in the first quarter. Ballentine Partners LLC now owns 2,624 shares of the information technology services provider’s stock worth $2,001,000 after acquiring an additional 263 shares during the period. CHICAGO TRUST Co NA boosted its holdings in shares of ServiceNow by 44.4% in the first quarter. CHICAGO TRUST Co NA now owns 618 shares of the information technology services provider’s stock worth $471,000 after acquiring an additional 190 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in shares of ServiceNow by 7.9% in the first quarter. Traynor Capital Management Inc. now owns 327 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 24 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 0.5 %

Shares of NYSE NOW traded up $4.63 during trading hours on Friday, hitting $921.75. The company’s stock had a trading volume of 1,422,660 shares, compared to its average volume of 1,272,323. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $188.96 billion, a price-to-earnings ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.59. The business has a 50-day simple moving average of $874.61 and a 200-day simple moving average of $791.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was 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 Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,267 shares of company stock valued at $5,935,447 over the last ninety days. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup lifted their price objective on ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group lifted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, TD Cowen lifted their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $914.15.

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.