DRW Securities LLC Has $7.80 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

DRW Securities LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 248.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,722 shares of the information technology services provider’s stock after purchasing an additional 6,221 shares during the quarter. DRW Securities LLC’s holdings in ServiceNow were worth $7,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in ServiceNow by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock valued at $1,487,343,000 after buying an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in ServiceNow by 11.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after buying an additional 167,847 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares in the last quarter. Swedbank AB boosted its stake in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ServiceNow by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock valued at $1,105,767,000 after buying an additional 31,702 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on 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 directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,787 shares of company stock valued at $17,841,028. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.3 %

NYSE NOW opened at $1,060.60 on Monday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,064.59. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $218.48 billion, a PE ratio of 164.95, a P/E/G ratio of 6.09 and a beta of 0.98. The stock has a 50-day simple moving average of $948.53 and a 200 day simple moving average of $836.29.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on NOW. Royal Bank of Canada boosted their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. UBS Group lifted their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

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.