Moors & Cabot Inc. Buys 159 Shares of ServiceNow, Inc. (NYSE:NOW)

Moors & Cabot Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,662 shares of the information technology services provider’s stock after purchasing an additional 159 shares during the period. Moors & Cabot Inc.’s holdings in ServiceNow were worth $8,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC raised its holdings in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth approximately $32,000. Finally, DT Investment Partners LLC raised its position in 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 acquiring an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NOW stock traded down $4.39 during midday trading on Wednesday, reaching $1,017.71. 80,230 shares of the company’s stock traded hands, compared to its average volume of 1,280,208. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66. The company has a 50-day moving average price of $938.70 and a two-hundred day moving average price of $829.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $209.65 billion, a PE ratio of 158.97, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,867 shares of ServiceNow stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the completion of the transaction, the general counsel now directly owns 6,843 shares in the company, valued at $7,007,026.71. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,373 shares of company stock valued at $7,139,335 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Canaccord Genuity Group upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

ServiceNow 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.