Motiv8 Investments LLC Acquires 84 Shares of ServiceNow, Inc. (NYSE:NOW)

Motiv8 Investments LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 907 shares of the information technology services provider’s stock after buying an additional 84 shares during the quarter. Motiv8 Investments LLC’s holdings in ServiceNow were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA boosted its stake in shares of ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Down 1.2 %

NYSE NOW traded down $10.36 during trading hours on Friday, reaching $825.04. 1,070,842 shares of the company’s stock were exchanged, compared to its average volume of 1,286,472. The company’s 50-day moving average is $799.33 and its two-hundred day moving average is $762.78. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $863.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $169.13 billion, a price-to-earnings ratio of 88.28, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Piper Sandler upped their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Truist Financial upped their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.