197 Shares in ServiceNow, Inc. $NOW Bought by Courier Capital LLC

Courier Capital LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, HoldingsChannel reports. The firm bought 197 shares of the information technology services provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in ServiceNow during the 1st quarter worth $382,000. Corient IA LLC purchased a new stake in ServiceNow during the 1st quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in ServiceNow during the 1st quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. purchased a new stake in ServiceNow during the 1st quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. grew its stake in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the 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 $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Guggenheim restated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Zacks Research upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup upped their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,121.37.

ServiceNow Stock Performance

NYSE NOW opened at $902.22 on Thursday. The stock has a market capitalization of $187.66 billion, a price-to-earnings ratio of 113.63, a PEG ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $909.21 and a 200 day moving average of $933.51.

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

ServiceNow Company Profile

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.