Signature Wealth Management Partners LLC Acquires 394 Shares of ServiceNow, Inc. (NYSE:NOW)

Signature Wealth Management Partners LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 78.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 894 shares of the information technology services provider’s stock after buying an additional 394 shares during the period. Signature Wealth Management Partners LLC’s holdings in ServiceNow were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. boosted its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Optas LLC lifted its stake in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the last quarter. Cedar Wealth Management LLC lifted its stake in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. Finally, Forbes J M & Co. LLP lifted its stake in shares of ServiceNow by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock valued at $4,035,000 after purchasing an additional 15 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, TD Cowen raised their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $842.22.

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders sold 9,139 shares of company stock valued at $6,913,787 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Down 0.5 %

NYSE NOW traded down $4.46 during midday trading on Monday, hitting $806.62. 539,186 shares of the company traded hands, compared to its average volume of 1,333,436. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $165.36 billion, a PE ratio of 86.27, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99. The company’s 50-day simple moving average is $760.07 and its 200-day simple moving average is $755.83. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $850.33.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

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.