New Century Financial Group LLC Purchases 351 Shares of ServiceNow, Inc. (NYSE:NOW)

New Century Financial Group LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 30.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,507 shares of the information technology services provider’s stock after purchasing an additional 351 shares during the period. New Century Financial Group LLC’s holdings in ServiceNow were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% during the 2nd 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 during the period. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter worth approximately $29,000. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The shares were 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 in the company, valued at approximately $3,027,502.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, 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. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOW shares. 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. Robert W. Baird upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen raised their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $894.40 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $183.35 billion, a price-to-earnings ratio of 95.66, a PEG ratio of 5.55 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $945.46. The firm’s 50-day moving average is $840.35 and its 200 day moving average is $777.10.

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

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.