ServiceNow, Inc. (NYSE:NOW) Shares Bought by Walter Public Investments Inc.

Walter Public Investments Inc. increased its position in ServiceNow, Inc. (NYSE:NOW) by 10.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,461 shares of the information technology services provider’s stock after acquiring an additional 2,171 shares during the period. ServiceNow makes up about 3.4% of Walter Public Investments Inc.’s investment portfolio, making the stock its 9th largest position. Walter Public Investments Inc.’s holdings in ServiceNow were worth $18,456,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOW. Sepio Capital LP lifted its holdings in shares of ServiceNow by 7.8% in the fourth quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after buying an additional 85 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of ServiceNow by 7.0% in the fourth quarter. Great Lakes Advisors LLC now owns 954 shares of the information technology services provider’s stock valued at $674,000 after buying an additional 62 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of ServiceNow by 3.8% in the fourth quarter. Financial Advocates Investment Management now owns 470 shares of the information technology services provider’s stock valued at $332,000 after buying an additional 17 shares during the period. AMG National Trust Bank acquired a new stake in shares of ServiceNow in the fourth quarter valued at $240,000. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in shares of ServiceNow by 56.4% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 890 shares of the information technology services provider’s stock valued at $629,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $878.95 on Monday. The stock has a 50 day moving average of $807.22 and a two-hundred day moving average of $766.54. 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, Inc. has a 12 month low of $527.24 and a 12 month high of $889.52. The company has a market capitalization of $181.06 billion, a P/E ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98.

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

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. TD Cowen boosted their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Piper Sandler upped their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.