Uniting Wealth Partners LLC Takes $1.14 Million Position in ServiceNow, Inc. $NOW

Uniting Wealth Partners LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,428 shares of the information technology services provider’s stock, valued at approximately $1,135,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Brighton Jones LLC grew its stake in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank raised its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC lifted its holdings in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 609 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.1%

ServiceNow stock opened at $124.08 on Monday. The business’s 50-day moving average price is $107.08 and its 200 day moving average price is $105.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm 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. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Evercore reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Citigroup reiterated a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.76.

ServiceNow 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.