Nicola Wealth Management LTD. Acquires 8,000 Shares of ServiceNow, Inc. $NOW

Nicola Wealth Management LTD. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 57.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 22,000 shares of the information technology services provider’s stock after purchasing an additional 8,000 shares during the period. ServiceNow comprises about 1.7% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 20th biggest position. Nicola Wealth Management LTD.’s holdings in ServiceNow were worth $17,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Haverford Trust Co raised its holdings in ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC raised its holdings in ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its holdings in ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC raised its holdings in ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 11 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,976 shares of company stock valued at $17,049,775. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. DA Davidson upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of ServiceNow in a research report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $940.23 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $195.57 billion, a P/E ratio of 118.42, a P/E/G ratio of 4.17 and a beta of 0.91. The business has a fifty day simple moving average of $929.66 and a two-hundred day simple moving average of $922.41. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.