Insight Wealth Partners LLC Acquires 62 Shares of ServiceNow, Inc. $NOW

Insight Wealth Partners LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 20.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 359 shares of the information technology services provider’s stock after purchasing an additional 62 shares during the quarter. Insight Wealth Partners LLC’s holdings in ServiceNow were worth $369,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. Nuveen LLC bought a new position in ServiceNow in the first quarter valued at $1,817,535,000. Alliancebernstein L.P. increased its stake in ServiceNow by 16.2% in the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after acquiring an additional 242,132 shares during the last quarter. Finally, Amundi increased its stake in ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $929.77 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 50-day moving average of $917.85 and a 200-day moving average of $940.95. The firm has a market cap of $193.39 billion, a P/E ratio of 117.10, a P/E/G ratio of 4.23 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.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share 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 analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.13 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Cowen restated a “buy” rating on shares of ServiceNow in a research report on Friday. Finally, Citigroup upped their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,124.17.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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.