Middleton & Co. Inc. MA Acquires 1,904 Shares of ServiceNow, Inc. (NYSE:NOW)

Middleton & Co. Inc. MA raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,299 shares of the information technology services provider’s stock after purchasing an additional 1,904 shares during the quarter. ServiceNow accounts for approximately 1.9% of Middleton & Co. Inc. MA’s investment portfolio, making the stock its 15th largest holding. Middleton & Co. Inc. MA’s holdings in ServiceNow were worth $16,755,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Creekmur Asset Management LLC bought a new position in ServiceNow in the first quarter worth approximately $25,000. Versant Capital Management Inc raised its stake 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 worth $27,000 after buying an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow during the fourth quarter worth $29,000. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.7 %

ServiceNow stock opened at $891.59 on Thursday. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $899.71. The stock has a market capitalization of $182.78 billion, a PE ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $815.58 and a 200-day simple moving average of $769.06.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping 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 analysts’ expectations of $2.61 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler upped 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. Royal Bank of Canada boosted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen raised their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $855.44.

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.