Perigon Wealth Management LLC Acquires Shares of 855 ServiceNow Inc (NYSE:NOW)

Perigon Wealth Management LLC acquired a new stake in ServiceNow Inc (NYSE:NOW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 855 shares of the information technology services provider’s stock, valued at approximately $346,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Duquesne Family Office LLC raised its position in ServiceNow by 37.9% in the 1st quarter. Duquesne Family Office LLC now owns 110,030 shares of the information technology services provider’s stock valued at $31,532,000 after purchasing an additional 30,225 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $284,000. APG Asset Management N.V. increased its stake in shares of ServiceNow by 66.9% in the 1st quarter. APG Asset Management N.V. now owns 179,895 shares of the information technology services provider’s stock valued at $51,554,000 after buying an additional 72,100 shares during the period. Windsor Group LTD acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $218,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of ServiceNow by 488.2% in the 2nd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 5,017 shares of the information technology services provider’s stock valued at $2,032,000 after buying an additional 4,164 shares during the period. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Several equities research analysts have recently commented on NOW shares. Royal Bank of Canada lifted their target price on ServiceNow from $500.00 to $510.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets lifted their target price on ServiceNow from $330.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Piper Sandler lifted their target price on ServiceNow from $360.00 to $430.00 and gave the company a “neutral” rating in a research note on Thursday. Credit Suisse Group lifted their target price on ServiceNow from $460.00 to $465.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $440.00 to $481.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $433.85.

NOW opened at $439.20 on Friday. ServiceNow Inc has a 52-week low of $213.99 and a 52-week high of $454.70. The firm has a market capitalization of $83.76 billion, a PE ratio of 119.35, a PEG ratio of 15.46 and a beta of 1.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.17. The business’s 50-day simple moving average is $413.30 and its 200 day simple moving average is $348.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $1.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. ServiceNow had a return on equity of 11.09% and a net margin of 18.42%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, research analysts forecast that ServiceNow Inc will post 1.01 earnings per share for the current year.

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $354.94, for a total transaction of $496,916.00. Following the transaction, the general counsel now owns 5,982 shares of the company’s stock, valued at $2,123,251.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chirantan Jitendra Desai sold 1,560 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $384.00, for a total value of $599,040.00. Following the transaction, the insider now directly owns 26,361 shares in the company, valued at approximately $10,122,624. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,794 shares of company stock worth $48,071,718. Company insiders own 1.00% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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