Veracity Capital LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Veracity Capital LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 37.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,045 shares of the information technology services provider’s stock after purchasing an additional 287 shares during the period. Veracity Capital LLC’s holdings in ServiceNow were worth $797,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NOW. Argonautica Private Wealth Management Inc. increased its position in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares in the last quarter. Wealth Management Partners LLC increased its position in ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Optas LLC lifted its holdings in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Morgan Stanley boosted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Wolfe Research reiterated an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $813.28.

ServiceNow Stock Down 1.0 %

NOW traded down $8.19 during trading hours on Thursday, reaching $785.92. 577,464 shares of the stock traded hands, compared to its average volume of 1,202,180. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a market cap of $161.11 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 4.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day simple moving average is $729.74 and its two-hundred day simple moving average is $742.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 in the last three months. 0.25% of the stock is owned by insiders.

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.