Insight Wealth Partners LLC Purchases Shares of 273 ServiceNow, Inc. (NYSE:NOW)

Insight Wealth Partners LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 273 shares of the information technology services provider’s stock, valued at approximately $215,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in ServiceNow in the 4th quarter worth approximately $1,648,259,000. Swedbank AB purchased a new position in shares of ServiceNow in the first quarter worth $897,908,000. Global Assets Advisory LLC purchased a new position in shares of ServiceNow in the first quarter worth $403,034,000. Vanguard Group Inc. grew its stake in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NOW shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Piper Sandler lifted their price objective on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Trading Down 0.5 %

Shares of NOW traded down $4.55 during trading hours on Friday, reaching $827.56. 835,507 shares of the company traded hands, compared to its average volume of 1,322,462. The stock’s fifty day moving average price is $770.45 and its 200 day moving average price is $757.41. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $169.65 billion, a price-to-earnings ratio of 88.51, a PEG ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $850.33.

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, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. Sell-side analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,178 shares of company stock worth $7,760,105. Company insiders own 0.25% of the company’s stock.

About ServiceNow

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.