Legacy Capital Wealth Partners LLC Invests $282,000 in ServiceNow, Inc. (NYSE:NOW)

Legacy Capital Wealth Partners LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 358 shares of the information technology services provider’s stock, valued at approximately $282,000.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the last quarter. Norges Bank bought a new position in ServiceNow during the 4th quarter valued at about $1,648,259,000. Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 0.1 %

NYSE NOW opened at $834.83 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $171.14 billion, a PE ratio of 89.29, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99. The company has a 50 day moving average price of $797.34 and a 200 day moving average price of $761.85. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $863.85.

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

Insider Buying and Selling

In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price target on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $849.62.

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.