261 Shares in ServiceNow, Inc. $NOW Bought by Leo Wealth LLC

Leo Wealth LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 261 shares of the information technology services provider’s stock, valued at approximately $268,000.

Several other hedge funds have also recently made changes to their positions in NOW. Nuveen LLC bought a new position in shares of ServiceNow in the 1st quarter worth about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Parnassus Investments LLC bought a new position in shares of ServiceNow in the 1st quarter worth about $519,806,000. Finally, Amundi raised its position in shares of ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after acquiring an additional 626,623 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NOW stock opened at $888.63 on Friday. The company has a market capitalization of $184.84 billion, a P/E ratio of 111.92, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The business has a 50-day simple moving average of $909.21 and a two-hundred day simple moving average of $931.62.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.13 EPS. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. UBS Group reduced their target price on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Bank of America raised their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group raised their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

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.