Nvest Financial LLC Buys Shares of 258 ServiceNow, Inc. $NOW

Nvest Financial LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel reports. The firm bought 258 shares of the information technology services provider’s stock, valued at approximately $265,000.

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

ServiceNow Trading Down 1.0%

NOW opened at $902.22 on Thursday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market cap of $187.66 billion, a P/E ratio of 113.63, a PEG ratio of 4.10 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. The business’s 50-day simple moving average is $909.21 and its 200-day simple moving average is $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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for 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 firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 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 value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Guggenheim reaffirmed a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Raymond James Financial increased their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,121.37.

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.