LGT Financial Advisors LLC Takes $32,000 Position in ServiceNow, Inc. $NOW

LGT Financial Advisors LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 31 shares of the information technology services provider’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently bought and sold shares of NOW. Haverford Trust Co increased its holdings in shares of ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after acquiring an additional 10 shares during the last quarter. Ascent Group LLC boosted its position in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after purchasing an additional 10 shares during the period. Edgemoor Investment Advisors Inc. increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC lifted its stake in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $918.17 on Tuesday. The firm has a market cap of $190.98 billion, a PE ratio of 115.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s fifty day moving average price is $911.55 and its two-hundred day moving average price is $938.10. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

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

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction 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 sale, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on NOW shares. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. DA Davidson increased their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Piper Sandler upped their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,121.37.

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.