ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 677,942 shares of the information technology services provider’s stock after acquiring an additional 11,979 shares during the quarter. Clearbridge Investments LLC’s holdings in ServiceNow were worth $533,316,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc increased its holdings in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC grew its holdings 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 purchasing an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the 4th quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow during the 2nd quarter valued at about $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, Truist Financial increased their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.4 %

Shares of ServiceNow stock opened at $894.40 on Tuesday. The stock has a 50-day simple moving average of $840.35 and a 200-day simple moving average of $777.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $183.35 billion, a price-to-earnings ratio of 95.66, a P/E/G ratio of 5.55 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 company had revenue of $2.63 billion during 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 company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.