ServiceNow, Inc. (NYSE:NOW) Shares Bought by Holderness Investments Co.

Holderness Investments Co. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 19.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 546 shares of the information technology services provider’s stock after buying an additional 88 shares during the quarter. Holderness Investments Co.’s holdings in ServiceNow were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. M&G Plc acquired a new position in ServiceNow during the first quarter valued at $11,030,000. New Mexico Educational Retirement Board raised its stake in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the period. Finally, Brookstone Capital Management boosted its stake in shares of ServiceNow by 25.5% in the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after buying an additional 2,928 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 2.0 %

NOW opened at $937.36 on Friday. The firm has a market capitalization of $192.16 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company’s 50 day simple moving average is $822.56 and its two-hundred day simple moving average is $771.44. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $940.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOW. Truist Financial lifted their price target on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target 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. JMP Securities upped their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Finally, Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of the 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 completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

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.