Davidson Capital Management Inc. Purchases 261 Shares of ServiceNow, Inc. (NYSE:NOW)

Davidson Capital Management Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,240 shares of the information technology services provider’s stock after purchasing an additional 261 shares during the period. ServiceNow accounts for approximately 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Davidson Capital Management Inc.’s holdings in ServiceNow were worth $3,335,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOW. Swedbank AB bought a new stake in ServiceNow in the 1st quarter valued at $897,908,000. Global Assets Advisory LLC acquired a new position in shares of ServiceNow during the first quarter valued at about $403,034,000. Vanguard Group Inc. grew its position 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 worth $14,066,715,000 after buying an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in ServiceNow during the second quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 18.3% in the 4th 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. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 3.2 %

NYSE:NOW opened at $919.25 on Friday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $921.97. The stock has a 50-day moving average price of $818.98 and a two-hundred day moving average price of $770.11. The stock has a market cap of $188.45 billion, a price-to-earnings ratio of 98.32, a PEG ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. Finally, Robert W. Baird raised their price target 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

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.