Hartline Investment Corp Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Hartline Investment Corp lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,799 shares of the information technology services provider’s stock after selling 55 shares during the period. ServiceNow accounts for approximately 2.9% of Hartline Investment Corp’s portfolio, making the stock its 11th biggest position. Hartline Investment Corp’s holdings in ServiceNow were worth $23,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Haverford Trust Co raised its position in shares of ServiceNow by 7.1% during the 3rd quarter. Haverford Trust Co now owns 1,169 shares of the information technology services provider’s stock valued at $1,046,000 after buying an additional 78 shares during the period. Empower Advisory Group LLC increased its stake in ServiceNow by 1.2% during the third quarter. Empower Advisory Group LLC now owns 3,416 shares of the information technology services provider’s stock worth $3,055,000 after acquiring an additional 40 shares during the last quarter. Aptus Capital Advisors LLC raised its position in ServiceNow by 20.7% in the third quarter. Aptus Capital Advisors LLC now owns 33,850 shares of the information technology services provider’s stock valued at $30,275,000 after purchasing an additional 5,803 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in shares of ServiceNow by 8.8% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 12,925 shares of the information technology services provider’s stock valued at $11,560,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new position in shares of ServiceNow during the 3rd quarter worth $378,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,048.29 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $632.25 and a 12 month high of $1,053.26. The company has a market cap of $215.95 billion, a P/E ratio of 163.03, a PEG ratio of 5.95 and a beta of 0.98. The firm has a fifty day moving average price of $920.45 and a 200 day moving average price of $818.12.

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

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $825.00, for a total transaction of $82,500.00. Following the completion of the transaction, the insider now directly owns 2,994 shares in the company, valued at $2,470,050. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,359 shares of company stock worth $5,038,241 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOW. Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird upped their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their price target on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

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.