ServiceNow, Inc. (NYSE:NOW) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in ServiceNow, Inc. (NYSE:NOW) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,844 shares of the information technology services provider’s stock after purchasing an additional 39,984 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.13% of ServiceNow worth $216,207,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Morling Financial Advisors LLC raised its stake in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. Optas LLC lifted its stake in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares during the last quarter. Cedar Wealth Management LLC boosted its holdings in ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares in the last quarter. Financial Advocates Investment Management increased its stake in ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares during the last quarter. Finally, Ndwm LLC raised its holdings in ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after purchasing an additional 14 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $891.59 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $815.58 and a 200-day simple moving average of $769.06. The company has a market cap of $182.78 billion, a price-to-earnings ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $899.71.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (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 analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated 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 directly owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. KeyCorp lowered their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Finally, Wells Fargo & Company lifted their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $855.44.

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.