ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,133 shares of the information technology services provider’s stock after purchasing an additional 413 shares during the quarter. Park Avenue Securities LLC’s holdings in ServiceNow were worth $7,971,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter worth $29,000. EntryPoint Capital LLC lifted its position 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 buying an additional 39 shares during the last quarter. Finally, Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow in the 4th quarter valued at about $35,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock traded down $16.67 during trading hours on Wednesday, hitting $776.28. 1,033,204 shares of the stock traded hands, compared to its average volume of 1,341,459. The stock has a 50-day simple moving average of $750.10 and a 200 day simple moving average of $754.75. The company has a market cap of $159.14 billion, a P/E ratio of 84.76, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 9,077 shares of company stock valued at $6,855,936 over the last three months. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Thursday, July 25th. Piper Sandler boosted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. TD Cowen raised their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Guggenheim reissued a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $842.22.

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.