Consolidated Portfolio Review Corp Acquires 183 Shares of ServiceNow, Inc. (NYSE:NOW)

Consolidated Portfolio Review Corp increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 32.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 747 shares of the information technology services provider’s stock after purchasing an additional 183 shares during the period. Consolidated Portfolio Review Corp’s holdings in ServiceNow were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. M&G Plc bought a new stake in shares of ServiceNow during the 1st quarter worth about $11,030,000. Smithfield Trust Co lifted its holdings in ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in ServiceNow by 9.4% during the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Summa Corp. bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $381,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

ServiceNow stock opened at $855.00 on Monday. The business’s fifty day moving average is $791.80 and its two-hundred day moving average is $760.31. 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 firm has a market cap of $176.13 billion, a P/E ratio of 91.44, a P/E/G ratio of 5.13 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $857.25.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,129 shares of company stock worth $5,759,436. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NOW shares. Stifel Nicolaus raised their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Wells Fargo & Company raised their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen increased their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of ServiceNow from $850.00 to $880.00 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 given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Company 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.