ServiceNow, Inc. $NOW Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 67.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the information technology services provider’s stock after acquiring an additional 1,005 shares during the quarter. Simplicity Wealth LLC’s holdings in ServiceNow were worth $2,571,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NOW. Bogart Wealth LLC grew its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the 2nd quarter valued at about $30,000. Finally, Dagco Inc. purchased a new position in shares of ServiceNow in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 1,097 shares of the firm’s 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 sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler raised their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Citigroup boosted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Monday, August 4th. Finally, BMO Capital Markets lifted their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Up 0.2%

NOW stock opened at $911.75 on Monday. The company has a market cap of $189.64 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a 50-day moving average of $914.67 and a two-hundred day moving average of $930.67.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping 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 analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted $3.13 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.