ServiceNow, Inc. (NYSE:NOW) Shares Acquired by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 86.5% during the second quarter, Holdings Channel reports. The fund owned 1,802 shares of the information technology services provider’s stock after purchasing an additional 836 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in ServiceNow were worth $1,418,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the 4th quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $867.34 on Wednesday. The firm has a market cap of $177.80 billion, a price-to-earnings ratio of 92.76, a PEG ratio of 5.55 and a beta of 0.98. The stock has a 50 day moving average of $842.39 and a 200-day moving average of $777.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird raised their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, 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. One investment 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.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.