Quent Capital LLC Purchases 53 Shares of ServiceNow, Inc. $NOW

Quent Capital LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982 shares of the information technology services provider’s stock after acquiring an additional 53 shares during the quarter. Quent Capital LLC’s holdings in ServiceNow were worth $1,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in ServiceNow in the first quarter valued at about $382,000. Corient IA LLC purchased a new position in ServiceNow in the first quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC purchased a new position in ServiceNow in the first quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. purchased a new position in ServiceNow in the first quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. grew its stake in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the transaction, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NOW. Needham & Company LLC lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Raymond James Financial boosted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Price Performance

Shares of NYSE NOW opened at $911.75 on Friday. The business’s 50 day moving average price is $914.67 and its 200 day moving average price is $929.33. The firm has a market cap of $189.64 billion, a P/E ratio of 114.83, a P/E/G ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow 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.