Trivium Point Advisory LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Trivium Point Advisory LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 227.1% in the second quarter, Holdings Channel reports. The firm owned 3,287 shares of the information technology services provider’s stock after acquiring an additional 2,282 shares during the period. Trivium Point Advisory LLC’s holdings in ServiceNow were worth $3,379,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its position in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the first quarter worth about $26,000. WASHINGTON TRUST Co boosted its position in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the period. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the 2nd quarter worth approximately $30,000. Finally, Dagco Inc. purchased a new position in ServiceNow in the 1st quarter worth approximately $33,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 0.4%

NYSE:NOW opened at $940.05 on Tuesday. 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 $919.33 and its two-hundred day moving average is $928.48. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market cap of $195.53 billion, a PE ratio of 118.39, a P/E/G ratio of 4.22 and a beta of 0.91.

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

About ServiceNow

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.