ServiceNow, Inc. $NOW Shares Purchased by Slow Capital Inc.

Slow Capital Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,435 shares of the information technology services provider’s stock after acquiring an additional 27 shares during the quarter. ServiceNow comprises 1.4% of Slow Capital Inc.’s holdings, making the stock its 17th largest holding. Slow Capital Inc.’s holdings in ServiceNow were worth $11,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Wealth Preservation Advisors LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow during the first quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow during the first quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $19,278,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ServiceNow by 131.4% in 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 acquiring an additional 840,731 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 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 $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last 90 days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NOW. FBN Securities raised ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Citigroup boosted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Stock Performance

Shares of NOW stock opened at $913.27 on Tuesday. The company has a market cap of $189.96 billion, a P/E ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. The firm has a fifty day moving average price of $913.22 and a 200 day moving average price of $931.27. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. 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 results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.