Chemung Canal Trust Co. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,238 shares of the information technology services provider’s stock after buying an additional 981 shares during the period. Chemung Canal Trust Co.’s holdings in ServiceNow were worth $6,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Pinnacle Associates Ltd. acquired a new position in ServiceNow in the 2nd quarter valued at $243,000. Private Advisor Group LLC lifted its stake in ServiceNow by 12.2% in the 2nd quarter. Private Advisor Group LLC now owns 4,859 shares of the information technology services provider’s stock valued at $1,969,000 after purchasing an additional 529 shares during the last quarter. Level Four Advisory Services LLC raised its stake in shares of ServiceNow by 6.8% during the second quarter. Level Four Advisory Services LLC now owns 912 shares of the information technology services provider’s stock valued at $370,000 after acquiring an additional 58 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of ServiceNow by 38.6% during the second quarter. AQR Capital Management LLC now owns 62,745 shares of the information technology services provider’s stock valued at $24,974,000 after acquiring an additional 17,475 shares during the last quarter. Finally, B. Riley Wealth Management Inc. bought a new position in shares of ServiceNow during the second quarter valued at $278,000. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NOW traded up $8.50 during mid-day trading on Wednesday, reaching $521.71. 996,977 shares of the company’s stock traded hands, compared to its average volume of 1,550,074. The stock has a market cap of $101.79 billion, a P/E ratio of 147.79, a PEG ratio of 17.14 and a beta of 1.15. The business has a 50-day simple moving average of $536.72 and a 200 day simple moving average of $484.27. ServiceNow, Inc. has a 1-year low of $238.93 and a 1-year high of $566.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.40 and a quick ratio of 1.40.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.18. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. ServiceNow had a net margin of 16.60% and a return on equity of 9.79%. Equities research analysts anticipate that ServiceNow, Inc. will post 1.11 earnings per share for the current fiscal year.

In related news, Director Frederic B. Luddy sold 1,658 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $495.49, for a total transaction of $821,522.42. Following the transaction, the director now directly owns 811 shares of the company’s stock, valued at $401,842.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,150 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $499.21, for a total transaction of $574,091.50. Following the transaction, the general counsel now directly owns 7,077 shares in the company, valued at $3,532,909.17. The disclosure for this sale can be found here. Insiders have sold 89,775 shares of company stock valued at $46,623,683 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of ServiceNow from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, October 26th. UBS Group assumed coverage on shares of ServiceNow in a research note on Wednesday, October 14th. They set a “buy” rating and a $600.00 target price for the company. Edward Jones assumed coverage on shares of ServiceNow in a research note on Wednesday, October 21st. They set a “buy” rating for the company. Argus lifted their target price on shares of ServiceNow from $509.00 to $600.00 in a research note on Friday, October 30th. Finally, Needham & Company LLC lifted their target price on shares of ServiceNow from $490.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $537.56.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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