D.A. Davidson & CO. Has $12.60 Million Position in ServiceNow, Inc. (NYSE:NOW)

D.A. Davidson & CO. lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,085 shares of the information technology services provider’s stock after selling 347 shares during the quarter. D.A. Davidson & CO.’s holdings in ServiceNow were worth $12,597,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quent Capital LLC boosted its holdings in ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after acquiring an additional 30 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% during the 1st 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 during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in ServiceNow by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,859 shares of the information technology services provider’s stock worth $2,942,000 after acquiring an additional 931 shares during the last quarter. Redwood Investment Management LLC purchased a new position in ServiceNow during the 1st quarter worth $254,000. Finally, Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter worth $25,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their target price 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 analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $989.07.

ServiceNow Trading Up 1.6 %

Shares of NOW opened at $1,070.07 on Wednesday. The business’s 50-day moving average price is $955.40 and its 200-day moving average price is $841.01. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The stock has a market cap of $220.43 billion, a PE ratio of 166.42, a P/E/G ratio of 6.04 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,787 shares of company stock valued at $17,841,028. 0.25% of the stock is owned by corporate insiders.

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.