Claro Advisors LLC Buys 130 Shares of ServiceNow, Inc. (NYSE:NOW)

Claro Advisors LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 907 shares of the information technology services provider’s stock after acquiring an additional 130 shares during the period. Claro Advisors LLC’s holdings in ServiceNow were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Creekmur Asset Management LLC acquired a new position in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the 4th quarter valued at $29,000. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter worth $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.9 %

NOW opened at $855.00 on Monday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $857.25. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 91.44, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $791.80 and a 200 day simple moving average of $760.31.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Piper Sandler upped their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JMP Securities lifted their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 7,129 shares of company stock worth $5,759,436 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.