ServiceNow, Inc. (NYSE:NOW) Shares Bought by Asset Dedication LLC

Asset Dedication LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,069 shares of the information technology services provider’s stock after buying an additional 69 shares during the period. Asset Dedication LLC’s holdings in ServiceNow were worth $2,414,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. M&G Plc bought a new position in shares of ServiceNow during the first quarter valued at approximately $11,030,000. New Mexico Educational Retirement Board grew its stake in ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after buying an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after buying an additional 1,078 shares during the period. Wealthspire Advisors LLC lifted its stake in ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after acquiring an additional 2,928 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.2 %

Shares of NYSE NOW opened at $825.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $863.85. The company has a market cap of $169.13 billion, a price-to-earnings ratio of 88.24, a P/E/G ratio of 5.13 and a beta of 0.98. The business has a fifty day simple moving average of $799.33 and a 200-day simple moving average of $762.85.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,914 shares of company stock worth $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Truist Financial lifted their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. JMP Securities boosted their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. KeyCorp lowered their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Finally, Wells Fargo & Company raised their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $849.62.

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.