Intech Investment Management LLC Has $5.03 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Intech Investment Management LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,388 shares of the information technology services provider’s stock after acquiring an additional 450 shares during the period. Intech Investment Management LLC’s holdings in ServiceNow were worth $5,025,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Morling Financial Advisors LLC boosted its position in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares during the last quarter. Optas LLC grew its stake in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC grew its stake in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of ServiceNow by 2.7% during the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares in the last quarter. Finally, Ndwm LLC lifted its position in shares of ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s 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 completion of 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. Over the last quarter, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 2.0 %

NOW stock opened at $937.36 on Friday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $940.12. The firm has a market capitalization of $192.16 billion, a PE ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. 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 stock has a 50-day simple moving average of $822.56 and a two-hundred day simple moving average 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 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 quarter in the previous year, the company earned $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. JMP Securities increased their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird upped their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.