Insight Wealth Partners LLC Has $369,000 Stake in ServiceNow, Inc. $NOW

Insight Wealth Partners LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 20.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 359 shares of the information technology services provider’s stock after purchasing an additional 62 shares during the period. Insight Wealth Partners LLC’s holdings in ServiceNow were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Haverford Trust Co boosted its stake in ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after purchasing an additional 10 shares during the last quarter. Ascent Group LLC lifted its position in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after buying an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. lifted its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after buying an additional 11 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of 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 in the last quarter. Finally, one8zero8 LLC lifted its position in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $929.77 on Friday. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 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 business’s 50 day simple moving average is $917.85 and its 200 day simple moving average is $940.95. The company has a market cap of $193.39 billion, a price-to-earnings ratio of 117.10, a PEG ratio of 4.23 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating 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 business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the business earned $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at $409,037.85. The trade was a 76.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Citigroup lifted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Finally, Barclays set a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.