Liberty One Investment Management LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Liberty One Investment Management LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 13.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 378 shares of the information technology services provider’s stock after purchasing an additional 44 shares during the period. Liberty One Investment Management LLC’s holdings in ServiceNow were worth $389,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Haverford Trust Co raised its position in ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after purchasing an additional 10 shares in the last quarter. Ascent Group LLC raised its position in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after purchasing an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. raised its position in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares in the last quarter. Integrated Investment Consultants LLC raised its position in ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares in the last quarter. Finally, one8zero8 LLC raised its position in ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.7%

NYSE NOW opened at $942.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $196.05 billion, a PE ratio of 118.71, a PEG ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The business’s 50-day moving average is $913.34 and its 200 day moving average is $938.13.

ServiceNow (NYSE:NOW) last posted its earnings results 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. The company had revenue of $3.22 billion for 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%.ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $3.13 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Zacks Research upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Citigroup lifted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,121.37.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.