Valley Wealth Managers Inc. Purchases 58 Shares of ServiceNow, Inc. (NYSE:NOW)

Valley Wealth Managers Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 591 shares of the information technology services provider’s stock after acquiring an additional 58 shares during the period. Valley Wealth Managers Inc.’s holdings in ServiceNow were worth $529,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Empowered Funds LLC grew its holdings in ServiceNow by 34.0% during the 3rd quarter. Empowered Funds LLC now owns 7,087 shares of the information technology services provider’s stock valued at $6,339,000 after purchasing an additional 1,797 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of ServiceNow by 2.5% in the third quarter. Empirical Finance LLC now owns 6,644 shares of the information technology services provider’s stock worth $5,942,000 after purchasing an additional 159 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in ServiceNow by 13.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 574 shares of the information technology services provider’s stock worth $513,000 after buying an additional 68 shares during the period. BluePointe Capital Management LLC lifted its holdings in ServiceNow by 0.6% during the 3rd 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 in the last quarter. Finally, First Business Financial Services Inc. bought a new position in ServiceNow in the third quarter worth approximately $383,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 2.7 %

Shares of ServiceNow stock opened at $1,011.39 on Friday. The firm has a market capitalization of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 6.00 and a beta of 0.98. The firm’s 50-day moving average price is $932.47 and its 200 day moving average price is $823.24. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday. Oppenheimer increased their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup boosted 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $974.04.

Insider Activity

In other news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock worth $5,024,928 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About ServiceNow

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.