Ignite Planners LLC Invests $209,000 in ServiceNow, Inc. (NYSE:NOW)

Ignite Planners LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 234 shares of the information technology services provider’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&G Plc acquired a new position in shares of ServiceNow during the first quarter worth about $11,030,000. AXA S.A. lifted its stake in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP purchased a new stake in ServiceNow during the second quarter worth approximately $2,679,000. New Mexico Educational Retirement Board lifted its stake in ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in ServiceNow by 375.6% during the first 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 last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.8 %

ServiceNow stock opened at $922.10 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $189.03 billion, a price-to-earnings ratio of 98.62, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $945.46. The stock’s fifty day moving average is $850.57 and its two-hundred day moving average is $781.79.

ServiceNow (NYSE:NOW) last posted its earnings results 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. Analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’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 sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets boosted their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “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 company a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $866.24.

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.