258 Shares in ServiceNow, Inc. $NOW Purchased by Nvest Financial LLC

Nvest Financial LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 258 shares of the information technology services provider’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Duncker Streett & Co. Inc. lifted its holdings in shares of ServiceNow by 3.8% during the second quarter. Duncker Streett & Co. Inc. now owns 7,155 shares of the information technology services provider’s stock worth $7,356,000 after purchasing an additional 260 shares during the period. Dock Street Asset Management Inc. lifted its holdings in shares of ServiceNow by 4.9% during the second quarter. Dock Street Asset Management Inc. now owns 44,538 shares of the information technology services provider’s stock worth $45,789,000 after purchasing an additional 2,095 shares during the period. Generali Asset Management SPA SGR raised its position in ServiceNow by 4.0% during the second quarter. Generali Asset Management SPA SGR now owns 17,688 shares of the information technology services provider’s stock valued at $18,185,000 after acquiring an additional 680 shares in the last quarter. Granite Group Advisors LLC raised its position in ServiceNow by 7.8% during the second quarter. Granite Group Advisors LLC now owns 388 shares of the information technology services provider’s stock valued at $399,000 after acquiring an additional 28 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in ServiceNow by 19.4% during the second quarter. Ritholtz Wealth Management now owns 3,425 shares of the information technology services provider’s stock valued at $3,521,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 1.0%

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

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. DA Davidson lifted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Needham & Company LLC lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Two 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, the stock has an average rating of “Moderate Buy” and an average target price of $1,121.37.

Insider Activity

In related news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last three months. Company insiders own 0.38% of the company’s stock.

ServiceNow 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.