Arkadios Wealth Advisors raised its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 88.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,034 shares of the information technology services provider’s stock after purchasing an additional 954 shares during the period. Arkadios Wealth Advisors’ holdings in ServiceNow were worth $967,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in NOW. Edgewood Management LLC bought a new stake in ServiceNow during the first quarter valued at about $1,515,281,000. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at approximately $1,117,096,000. Fisher Asset Management LLC raised its position in ServiceNow by 57.9% during the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock valued at $786,930,000 after buying an additional 518,349 shares during the last quarter. Capital International Investors lifted its holdings in shares of ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after purchasing an additional 491,835 shares during the period. Finally, Vanguard Group Inc. raised. its holdings in shares of ServiceNow by 1.9% in the first quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after buying an additional 306,106 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Credit Suisse Group decreased their price objective on ServiceNow from $700.00 to $650.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Piper Sandler decreased their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Truist Financial decreased their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. JMP Securities decreased their price objective on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Finally, UBS Group decreased their price objective on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $593.29.
ServiceNow Stock Performance
Shares of NOW opened at $386.97 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $454.93 and its 200-day moving average price is $479.32. ServiceNow, Inc. has a 52 week low of $386.70 and a 52 week high of $707.60. The stock has a market cap of $78.17 billion, a P/E ratio of 425.24, a P/E/G ratio of 8.17 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Equities research analysts expect ServiceNow, Inc. will post 1.72 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. In other news, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,922 shares of company stock valued at $15,146,557. Insiders own 0.28% of the company’s stock.
ServiceNow profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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