Virtue Capital Management LLC Has $855,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Virtue Capital Management LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 956 shares of the information technology services provider’s stock after selling 84 shares during the period. Virtue Capital Management LLC’s holdings in ServiceNow were worth $855,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Ridgewood Investments LLC bought a new stake in ServiceNow in the second quarter valued at $32,000. Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the period. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the 2nd quarter worth about $39,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NOW opened at $1,128.51 on Wednesday. The firm has a market cap of $232.47 billion, a P/E ratio of 175.51, a PEG ratio of 6.45 and a beta of 0.99. 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 fifty-two week low of $637.99 and a fifty-two week high of $1,147.37. The firm has a 50-day moving average of $987.03 and a 200 day moving average of $861.55.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. During the same period in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. Truist Financial boosted their target price on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,022.37.

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.