Sapient Capital LLC Buys 56,444 Shares of ServiceNow, Inc. $NOW

Sapient Capital LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 266.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,661 shares of the information technology services provider’s stock after buying an additional 56,444 shares during the period. Sapient Capital LLC’s holdings in ServiceNow were worth $7,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Wealth Watch Advisors INC bought a new position in ServiceNow in the third quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new position in ServiceNow during the 3rd quarter worth $50,000. Pin Oak Investment Advisors Inc. raised its position in ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. KeyCorp restated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Capital One Financial raised their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wells Fargo & Company lowered their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, FBN Securities cut their price objective on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.39.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,993 shares of company stock worth $1,716,436. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $124.91 on Monday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The business’s fifty day simple moving average is $106.73 and its 200-day simple moving average is $105.71. 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 $129.16 billion, a PE ratio of 78.07, a PEG ratio of 2.20 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping 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 firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

About ServiceNow

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.