Fiduciary Group LLC Buys Shares of 764 ServiceNow, Inc. (NYSE:NOW)

Fiduciary Group LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 764 shares of the information technology services provider’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc raised its stake 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 valued at $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow in the fourth quarter valued at $29,000. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in ServiceNow during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOW shares. TD Cowen boosted their price objective on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird lifted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler increased their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets lifted their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Price Performance

Shares of NYSE NOW opened at $878.95 on Friday. The stock has a fifty day moving average price of $807.22 and a 200 day moving average price of $766.50. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $889.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $181.06 billion, a PE ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping 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 analysts’ expectations of $2.61 billion. During the same quarter last year, the business earned $0.77 EPS. The business’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at ServiceNow

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 transaction 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 document filed with the SEC, which is accessible through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction 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 owns 4,019 shares in the company, valued at $3,319,372.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by corporate 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.