Amalgamated Bank Increases Stock Position in ServiceNow, Inc. $NOW

Amalgamated Bank grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 47,112 shares of the information technology services provider’s stock after buying an additional 1,850 shares during the period. Amalgamated Bank’s holdings in ServiceNow were worth $48,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Haverford Trust Co raised its holdings in shares of ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC raised its holdings in shares of ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its holdings in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC raised its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 11 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 2.8%

Shares of NOW opened at $911.75 on Thursday. 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 firm’s 50-day moving average is $920.43 and its two-hundred day moving average is $946.08. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $189.64 billion, a P/E ratio of 114.83, a PEG ratio of 4.23 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business posted $3.72 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider owned 3,027 shares in the company, valued at $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,980 shares of company stock valued at $16,049,017 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NOW shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Monday. JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. UBS Group dropped their price target on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Barclays set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Raymond James Financial boosted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,131.07.

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.