ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.9% in the second quarter, HoldingsChannel reports. The fund owned 537,269 shares of the information technology services provider’s stock after buying an additional 52,601 shares during the quarter. ServiceNow makes up about 0.8% of Ensign Peak Advisors Inc’s portfolio, making the stock its 20th largest position. Ensign Peak Advisors Inc’s holdings in ServiceNow were worth $422,653,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc raised its position in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the fourth quarter valued at $29,000. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW opened at $937.36 on Friday. The company has a market capitalization of $192.16 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. The company has a 50-day moving average of $822.56 and a 200-day moving average of $771.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $940.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for 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 for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NOW shares. Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, JMP Securities boosted their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred 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 transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock valued at $5,608,936. Corporate 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.