Invst LLC Invests $282,000 in ServiceNow, Inc. (NYSE:NOW)

Invst LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 357 shares of the information technology services provider’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the fourth quarter worth about $29,000. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% during the first 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. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $894.40 on Tuesday. The firm’s 50 day simple moving average is $840.35 and its 200 day simple moving average is $777.10. 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 firm has a market capitalization of $183.35 billion, a PE ratio of 95.66, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $945.46.

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

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 3,649 shares in the company, 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 valued at $5,608,936 in the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities boosted their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. TD Cowen boosted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.