Second Half Financial Partners LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Second Half Financial Partners LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 487 shares of the information technology services provider’s stock, valued at approximately $436,000.

Other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. EntryPoint Capital LLC raised its position 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 valued at $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in ServiceNow in the 2nd quarter worth about $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Deutsche Bank Aktiengesellschaft upped their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JMP Securities boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group raised their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,231 shares of company stock worth $4,947,292 over the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

NOW opened at $1,005.34 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $207.10 billion, a P/E ratio of 156.35, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98. The company’s 50 day simple moving average is $935.45 and its 200-day simple moving average is $827.30. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.