Ingalls & Snyder LLC Purchases New Position in ServiceNow, Inc. $NOW

Ingalls & Snyder LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 207 shares of the information technology services provider’s stock, valued at approximately $213,000.

Several other large investors have also modified their holdings of NOW. Haverford Trust Co lifted its position in 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 acquiring an additional 10 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after purchasing an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. boosted its position in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC grew its stake in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC increased its position in ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,980 shares of company stock valued at $16,049,017 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 1.8%

NOW opened at $947.33 on Tuesday. 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 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a market capitalization of $197.05 billion, a P/E ratio of 119.31, a P/E/G ratio of 4.20 and a beta of 0.92. The business has a 50 day simple moving average of $918.98 and a 200-day simple moving average of $944.11.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Barclays set a $1,210.00 price objective on ServiceNow in a report on Thursday, July 24th. Piper Sandler increased their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Monday. Finally, Citigroup raised their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,124.17.

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.