Inverness Counsel LLC NY grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,838 shares of the information technology services provider’s stock after acquiring an additional 8,985 shares during the period. ServiceNow comprises approximately 1.3% of Inverness Counsel LLC NY’s holdings, making the stock its 24th biggest holding. Inverness Counsel LLC NY’s holdings in ServiceNow were worth $36,731,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Lyell Wealth Management LP boosted its holdings in ServiceNow by 5.4% in the 2nd quarter. Lyell Wealth Management LP now owns 25,180 shares of the information technology services provider’s stock worth $13,838,000 after acquiring an additional 1,291 shares during the period. WCM Investment Management LLC lifted its position in shares of ServiceNow by 3.4% during the first quarter. WCM Investment Management LLC now owns 505,532 shares of the information technology services provider’s stock worth $252,822,000 after purchasing an additional 16,627 shares in the last quarter. Capital International Investors boosted its stake in shares of ServiceNow by 2.9% in the first quarter. Capital International Investors now owns 2,832,470 shares of the information technology services provider’s stock valued at $1,416,525,000 after purchasing an additional 80,628 shares during the period. Marino Stram & Associates LLC acquired a new stake in ServiceNow during the 2nd quarter valued at $4,088,000. Finally, RiverPark Advisors LLC increased its stake in ServiceNow by 26.7% during the 1st quarter. RiverPark Advisors LLC now owns 26,318 shares of the information technology services provider’s stock worth $13,162,000 after buying an additional 5,542 shares during the period. Institutional investors and hedge funds own 85.42% of the company’s stock.
Shares of NYSE NOW traded up $1.13 during mid-day trading on Wednesday, hitting $646.55. The company had a trading volume of 4,678 shares, compared to its average volume of 1,408,175. ServiceNow, Inc. has a 12 month low of $442.00 and a 12 month high of $681.10. The firm has a market cap of $128.08 billion, a P/E ratio of 768.37, a PEG ratio of 17.05 and a beta of 0.92. The business’s 50-day simple moving average is $600.32 and its 200-day simple moving average is $538.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.
In other news, Director Lawrence Jackson sold 422 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $642.69, for a total value of $271,215.18. Following the sale, the director now directly owns 707 shares in the company, valued at approximately $454,381.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan L. Bostrom sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $461.40, for a total value of $2,076,300.00. Following the transaction, the director now owns 1,780 shares of the company’s stock, valued at approximately $821,292. The disclosure for this sale can be found here. Insiders sold 32,094 shares of company stock valued at $17,810,772 over the last 90 days. 0.35% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on NOW shares. JMP Securities lifted their target price on ServiceNow from $568.00 to $639.00 and gave the stock a “market outperform” rating in a research report on Friday, July 23rd. BMO Capital Markets lifted their price objective on ServiceNow from $575.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Truist raised their price target on shares of ServiceNow from $575.00 to $640.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Piper Sandler upped their price target on shares of ServiceNow from $550.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, July 9th. Finally, Bank of America raised their price objective on shares of ServiceNow from $680.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Two investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Buy” and an average price target of $641.90.
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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