Beck Capital Management LLC Has $3.59 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Beck Capital Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 20.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,568 shares of the information technology services provider’s stock after buying an additional 781 shares during the period. Beck Capital Management LLC’s holdings in ServiceNow were worth $3,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ServiceNow by 18.3% during the 4th 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 purchasing an additional 271,153 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in ServiceNow by 2.3% during the second 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 buying an additional 34,855 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of ServiceNow by 7.5% in 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 buying an additional 101,485 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 2.0 %

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

ServiceNow (NYSE:NOW) last posted its earnings results 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 return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NOW shares. Truist Financial upped their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler lifted their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $855.44.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow 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 owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

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.