Oxbow Advisors LLC Has $10.23 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Oxbow Advisors LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,437 shares of the information technology services provider’s stock after selling 81 shares during the quarter. ServiceNow comprises about 1.0% of Oxbow Advisors LLC’s holdings, making the stock its 23rd biggest position. Oxbow Advisors LLC’s holdings in ServiceNow were worth $10,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC raised its holdings in shares of ServiceNow by 2.9% during the third quarter. Lindbrook Capital LLC now owns 1,402 shares of the information technology services provider’s stock worth $1,254,000 after acquiring an additional 39 shares in the last quarter. Klingman & Associates LLC bought a new position in ServiceNow during the third quarter valued at about $341,000. Assetmark Inc. raised its holdings in ServiceNow by 16.5% during the third quarter. Assetmark Inc. now owns 55,094 shares of the information technology services provider’s stock valued at $49,276,000 after buying an additional 7,783 shares in the last quarter. Beta Wealth Group Inc. raised its holdings in ServiceNow by 3.5% during the third quarter. Beta Wealth Group Inc. now owns 2,420 shares of the information technology services provider’s stock valued at $2,164,000 after buying an additional 82 shares in the last quarter. Finally, United Bank bought a new position in ServiceNow during the third quarter valued at about $480,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOW shares. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. UBS Group lifted 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, Mizuho lifted their price objective on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Price Performance

Shares of NOW traded down $7.20 on Friday, hitting $1,008.08. The company’s stock had a trading volume of 1,094,976 shares, compared to its average volume of 1,262,063. The company has a market capitalization of $207.66 billion, a PE ratio of 156.78, a PEG ratio of 5.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $615.54 and a fifty-two week high of $1,024.44. The company has a 50 day moving average price of $912.56 and a 200 day moving average price of $812.60.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during 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%. ServiceNow’s 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, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their position. 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 804 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock valued at $2,791,181 in the last quarter. Company 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.