Angeles Wealth Management LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Angeles Wealth Management LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 15.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,248 shares of the information technology services provider’s stock after purchasing an additional 169 shares during the quarter. Angeles Wealth Management LLC’s holdings in ServiceNow were worth $982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the fourth quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the second quarter valued at approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Wells Fargo & Company increased their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now 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 a total of 6,914 shares of company stock worth $5,608,936 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 0.5 %

NYSE:NOW opened at $860.04 on Wednesday. The stock has a fifty day moving average price of $801.98 and a two-hundred day moving average price of $764.19. The stock has a market capitalization of $177.17 billion, a price-to-earnings ratio of 91.98, a PEG ratio of 4.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $866.45.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during 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%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.