Harmony Asset Management LLC Invests $393,000 in ServiceNow, Inc. (NYSE:NOW)

Harmony Asset Management LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 500 shares of the information technology services provider’s stock, valued at approximately $393,000.

Several other institutional investors have also added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the 4th quarter valued at $29,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.0 %

Shares of ServiceNow stock opened at $937.36 on Monday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $940.12. The company’s fifty day simple moving average is $822.56 and its 200-day simple moving average is $771.66. 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 stock has a market capitalization of $192.16 billion, a PE ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the 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 completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares in the company, valued at $8,850,474. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. JMP Securities boosted their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, Truist Financial lifted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.