ServiceNow, Inc. $NOW Shares Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 36.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 441 shares of the information technology services provider’s stock after buying an additional 117 shares during the quarter. Accurate Wealth Management LLC’s holdings in ServiceNow were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. Nuveen LLC acquired a new stake in ServiceNow in the 1st quarter valued at about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after purchasing an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new stake in shares of ServiceNow in the first quarter valued at approximately $519,806,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Piper Sandler boosted their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group dropped their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were 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 directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 over the last 90 days. 0.38% of the stock is owned by insiders.

ServiceNow Stock Down 1.5%

Shares of NYSE NOW opened at $919.44 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $920.28 and its two-hundred day moving average is $925.55. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm has a market cap of $191.24 billion, a price-to-earnings ratio of 115.80, a PEG ratio of 4.20 and a beta of 0.91.

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