Holderness Investments Co. Raises Position in ServiceNow, Inc. (NYSE:NOW)

Holderness Investments Co. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 546 shares of the information technology services provider’s stock after purchasing an additional 88 shares during the quarter. Holderness Investments Co.’s holdings in ServiceNow were worth $430,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. M&G Plc bought a new position in ServiceNow during the first quarter valued at $11,030,000. New Mexico Educational Retirement Board grew its holdings in ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the period. Wealthspire Advisors LLC lifted its stake in ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 56 shares during the last quarter. Finally, Brookstone Capital Management boosted its position in shares of ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after buying an additional 2,928 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction 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 sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

ServiceNow Trading Up 2.0 %

NYSE NOW opened at $937.36 on Friday. The firm has a market cap of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $940.12. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $822.56 and a 200 day moving average price of $771.44.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts forecast 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 issued reports on the company. Guggenheim reissued a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Piper Sandler lifted their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JMP Securities upped their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. KeyCorp reduced 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, BMO Capital Markets boosted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price 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.