New Century Financial Group LLC Acquires 351 Shares of ServiceNow, Inc. (NYSE:NOW)

New Century Financial Group LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 30.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,507 shares of the information technology services provider’s stock after purchasing an additional 351 shares during the quarter. New Century Financial Group LLC’s holdings in ServiceNow were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 1.8% in the 1st 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 during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ServiceNow by 18.3% in the fourth 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 during the last quarter. Bank of New York Mellon Corp increased its stake in ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the last quarter. Fisher Asset Management LLC raised its position in ServiceNow by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after purchasing an additional 101,485 shares in the last quarter. Finally, Swedbank AB lifted its stake in ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after purchasing an additional 120,983 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOW. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. JMP Securities increased their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler lifted their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. 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 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $894.40 on Tuesday. The business has a fifty day simple moving average of $840.35 and a two-hundred day simple moving average of $777.10. The firm has a market capitalization of $183.35 billion, a P/E ratio of 95.66, a P/E/G ratio of 5.55 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, Inc. has a 12 month low of $527.24 and a 12 month high of $945.46.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping 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 business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

About ServiceNow

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.