ServiceNow, Inc. (NYSE:NOW) Shares Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 44.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 947 shares of the information technology services provider’s stock after purchasing an additional 290 shares during the period. Steel Grove Capital Advisors LLC’s holdings in ServiceNow were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NOW. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% in the 2nd 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 during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $29,000. EntryPoint Capital LLC increased its holdings in shares of ServiceNow by 3,900.0% in 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 during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 2.0 %

Shares of ServiceNow stock opened at $937.36 on Monday. 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 firm has a market cap of $192.16 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The business has a fifty day simple moving average of $822.56 and a 200-day simple moving average of $771.66. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $940.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 business 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 firm posted $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction 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 document filed with the SEC, which is available at the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOW. Citigroup boosted their price target on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Truist Financial upped their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.