Concord Asset Management LLC VA Has $1.57 Million Stock Position in ServiceNow, Inc. $NOW

Concord Asset Management LLC VA boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,528 shares of the information technology services provider’s stock after buying an additional 54 shares during the period. Concord Asset Management LLC VA’s holdings in ServiceNow were worth $1,571,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in ServiceNow in the 1st quarter valued at about $382,000. Corient IA LLC bought a new stake in ServiceNow in the 1st quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in ServiceNow in the 1st quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. bought a new stake in ServiceNow in the 1st quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. boosted its holdings in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $888.63 on Monday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a 50-day simple moving average of $909.21 and a 200 day simple moving average of $932.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $184.84 billion, a PE ratio of 111.92, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted 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. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $3.13 earnings per share. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last three months. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NOW. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Guggenheim restated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Barclays set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

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.