ServiceNow, Inc. $NOW Shares Bought by Optas LLC

Optas LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,013 shares of the information technology services provider’s stock after purchasing an additional 60 shares during the period. Optas LLC’s holdings in ServiceNow were worth $1,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Merchants Corp raised its holdings in shares of ServiceNow by 1.4% during the second quarter. First Merchants Corp now owns 11,393 shares of the information technology services provider’s stock worth $11,713,000 after purchasing an additional 160 shares during the period. Eagle Strategies LLC increased its holdings in shares of ServiceNow by 225.9% in the 2nd quarter. Eagle Strategies LLC now owns 3,015 shares of the information technology services provider’s stock worth $3,100,000 after acquiring an additional 2,090 shares during the period. Castle Rock Wealth Management LLC increased its holdings in shares of ServiceNow by 54.9% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 2,739 shares of the information technology services provider’s stock worth $2,639,000 after acquiring an additional 971 shares during the period. Northern Financial Advisors Inc increased its holdings in shares of ServiceNow by 1.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 2,172 shares of the information technology services provider’s stock worth $2,233,000 after acquiring an additional 21 shares during the period. Finally, NBT Bank N A NY increased its holdings in shares of ServiceNow by 4.5% in the 2nd quarter. NBT Bank N A NY now owns 1,507 shares of the information technology services provider’s stock worth $1,549,000 after acquiring an additional 65 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,737 shares of company stock worth $16,798,825. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Monday, August 4th. Piper Sandler increased their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Needham & Company LLC increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Stock Performance

NYSE:NOW opened at $914.15 on Thursday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $910.23 and a 200-day moving average of $930.97. The firm has a market cap of $190.14 billion, a price-to-earnings ratio of 115.13, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $3.13 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.