Cable Hill Partners LLC Acquires Shares of 236 ServiceNow, Inc. (NYSE:NOW)

Cable Hill Partners LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 236 shares of the information technology services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Creekmur Asset Management LLC acquired a new position in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% in 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 acquired a new stake in ServiceNow during the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $1,039.74 on Friday. The business’s 50-day simple moving average is $924.67 and its 200 day simple moving average is $819.71. The stock has a market cap of $214.19 billion, a price-to-earnings ratio of 161.70, a P/E/G ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. 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 posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) 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 business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the firm’s 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 sale, the insider now 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 SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction dated 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 approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,325 shares of company stock valued at $5,024,928. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Jefferies Financial Group lifted their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein boosted 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 boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

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.