7,505 Shares in ServiceNow, Inc. $NOW Purchased by Trivium Point Advisory LLC

Trivium Point Advisory LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,505 shares of the information technology services provider’s stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Florida Financial Advisors LLC grew its position in shares of ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after buying an additional 14 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after acquiring an additional 18 shares in the last quarter. American Trust raised its holdings in shares of ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after acquiring an additional 18 shares in the last quarter. Morse Asset Management Inc lifted its stake in ServiceNow by 0.5% in the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after acquiring an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its holdings in ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NOW. FBN Securities reduced their price objective on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research report on Thursday, July 23rd. Capital One Financial lifted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Citic Securities reduced their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Truist Financial increased their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.76.

ServiceNow Price Performance

NOW opened at $124.08 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market cap of $128.29 billion, a price-to-earnings ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. The stock has a fifty day simple moving average of $107.08 and a two-hundred day simple moving average of $105.59. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.