Quent Capital LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Quent Capital LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 15.4% during the third quarter, Holdings Channel reports. The institutional investor owned 959 shares of the information technology services provider’s stock after buying an additional 128 shares during the quarter. Quent Capital LLC’s holdings in ServiceNow were worth $856,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc increased its holdings in ServiceNow by 466.7% in the second 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 last quarter. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow during the 4th quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, 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 completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 187 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $27.04 during midday trading on Friday, hitting $917.68. The stock had a trading volume of 1,183,626 shares, compared to its average volume of 1,285,470. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $945.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $848.43 and a two-hundred day moving average price of $780.59. The company has a market capitalization of $188.12 billion, a PE ratio of 98.16, a P/E/G ratio of 5.55 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for 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 revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. Truist Financial raised their target price on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird lifted 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” 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 company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $855.44.

About ServiceNow

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.