MBB Public Markets I LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

MBB Public Markets I LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2,025.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,520 shares of the information technology services provider’s stock after acquiring an additional 13,837 shares during the quarter. MBB Public Markets I LLC’s holdings in ServiceNow were worth $11,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter worth approximately $29,000. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter valued at approximately $32,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. JMP Securities lifted their target price on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler upped their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets raised their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Performance

NOW stock opened at $884.86 on Friday. The stock’s 50 day simple moving average is $832.05 and its 200 day simple moving average is $774.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. The stock has a market capitalization of $181.40 billion, a PE ratio of 94.64, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.61 billion. During the same period last year, the firm posted $0.77 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the 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 transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now 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 sold 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of the stock is currently owned by company insiders.

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.