RB Capital Management LLC Has $1.09 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

RB Capital Management LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,223 shares of the information technology services provider’s stock after purchasing an additional 22 shares during the quarter. RB Capital Management LLC’s holdings in ServiceNow were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOW. NorthCrest Asset Manangement LLC grew its position in shares of ServiceNow by 2.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider’s stock valued at $832,000 after purchasing an additional 21 shares during the period. Deltec Asset Management LLC acquired a new position in ServiceNow during the 2nd quarter worth approximately $971,000. ORG Partners LLC boosted its position in ServiceNow by 1,623.8% during the 2nd quarter. ORG Partners LLC now owns 724 shares of the information technology services provider’s stock worth $571,000 after acquiring an additional 682 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in ServiceNow by 4.9% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 8,336 shares of the information technology services provider’s stock worth $6,558,000 after acquiring an additional 389 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in ServiceNow by 5.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,725 shares of the information technology services provider’s stock worth $21,024,000 after acquiring an additional 1,445 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,629 shares of company stock valued at $20,861,626. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $1,120.71 on Tuesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,137.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $230.87 billion, a price-to-earnings ratio of 174.29, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. The business has a 50-day moving average of $987.03 and a 200-day moving average of $861.55.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JMP Securities upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler increased 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. TD Cowen increased their price target on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.26.

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.