Freedom Investment Management Inc. Acquires 312 Shares of ServiceNow, Inc. (NYSE:NOW)

Freedom Investment Management Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 72.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 740 shares of the information technology services provider’s stock after purchasing an additional 312 shares during the period. Freedom Investment Management Inc.’s holdings in ServiceNow were worth $662,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Catalyst Financial Partners LLC increased its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock valued at $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network grew its stake in ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. BluePointe Capital Management LLC lifted its position 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 last quarter. Finally, Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Citigroup increased their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Scotiabank assumed coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Robert W. Baird increased their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, KeyCorp boosted their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $989.07.

ServiceNow Stock Down 2.7 %

NOW opened at $1,041.40 on Friday. The company has a fifty day moving average of $960.84 and a two-hundred day moving average of $843.79. The stock has a market capitalization of $214.53 billion, a price-to-earnings ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,072.84. 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 (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, research analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is owned by company 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.