Xponance Inc. Buys 555 Shares of ServiceNow, Inc. (NYSE:NOW)

Xponance Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,670 shares of the information technology services provider’s stock after purchasing an additional 555 shares during the period. Xponance Inc.’s holdings in ServiceNow were worth $38,287,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position 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 worth $1,239,198,000 after acquiring an additional 271,153 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after acquiring an additional 34,855 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of ServiceNow by 7.5% during the 4th 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 acquiring an additional 101,485 shares during the period. Finally, Swedbank AB increased its stake in shares of ServiceNow by 10.3% in the 2nd 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 in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. One investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Trading Up 2.0 %

Shares of NOW stock opened at $937.36 on Monday. The company has a market cap of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $940.12. The stock’s 50 day simple moving average is $822.56 and its two-hundred 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.

ServiceNow (NYSE:NOW) last released its quarterly 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 quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred 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. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Company insiders own 0.25% of the company’s stock.

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.