Copperwynd Financial LLC Acquires 300 Shares of ServiceNow, Inc. (NYSE:NOW)

Copperwynd Financial LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 31.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257 shares of the information technology services provider’s stock after acquiring an additional 300 shares during the quarter. Copperwynd Financial LLC’s holdings in ServiceNow were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was 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 approximately $5,252,800.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the business’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 value of $1,485,000.00. Following the completion of the sale, 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. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $881.79 on Friday. The company has a market cap of $180.77 billion, a P/E ratio of 94.31, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. 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’s 50-day moving average price is $837.59 and its 200-day moving average price is $776.29. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46.

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

Analyst Ratings Changes

A number of research firms recently commented on NOW. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler upped their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One investment 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. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $855.44.

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.