ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Hilltop Holdings Inc.

Hilltop Holdings Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 427.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,408 shares of the information technology services provider’s stock after purchasing an additional 2,762 shares during the quarter. Hilltop Holdings Inc.’s holdings in ServiceNow were worth $3,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at $30,000. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter worth about $32,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during 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 in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $39,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,329 shares of company stock worth $20,547,241 over the last ninety days. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Down 0.1 %

Shares of NOW opened at $1,048.43 on Tuesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The firm has a market capitalization of $215.98 billion, a P/E ratio of 163.05, a price-to-earnings-growth ratio of 6.02 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $963.10 and its 200 day simple moving average is $847.50.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. On average, equities 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 research firms recently issued reports on NOW. KeyCorp raised 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. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $994.43.

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.