ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,977 shares of the information technology services provider’s stock after acquiring an additional 357 shares during the quarter. Summit Trail Advisors LLC’s holdings in ServiceNow were worth $1,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Thrivent Financial for Lutherans boosted its holdings in ServiceNow by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 325,633 shares of the information technology services provider’s stock worth $256,164,000 after buying an additional 5,561 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in ServiceNow by 2.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 243,437 shares of the information technology services provider’s stock worth $191,505,000 after buying an additional 5,926 shares in the last quarter. AE Wealth Management LLC boosted its holdings in ServiceNow by 38.5% during the second quarter. AE Wealth Management LLC now owns 6,774 shares of the information technology services provider’s stock worth $5,329,000 after buying an additional 1,882 shares in the last quarter. Beaton Management Co. Inc. boosted its holdings in ServiceNow by 3.0% during the second quarter. Beaton Management Co. Inc. now owns 1,025 shares of the information technology services provider’s stock worth $806,000 after buying an additional 30 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its holdings in ServiceNow by 66.6% during the second quarter. Bridges Investment Management Inc. now owns 77,136 shares of the information technology services provider’s stock worth $60,681,000 after buying an additional 30,848 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The shares were 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 in the company, valued at $9,479,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Price Performance

ServiceNow stock opened at $937.36 on Friday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $940.12. The stock has a market cap of $192.16 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. The company has a 50-day moving average price of $822.56 and a 200 day moving average price of $771.44. 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 (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business earned $0.77 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

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.