Delta Investment Management LLC Raises Stock Position in ServiceNow, Inc. $NOW

Delta Investment Management LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,142 shares of the information technology services provider’s stock after purchasing an additional 14 shares during the quarter. Delta Investment Management LLC’s holdings in ServiceNow were worth $1,174,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Signature Wealth Management Group grew its position in shares of ServiceNow by 1.9% in the second quarter. Signature Wealth Management Group now owns 1,957 shares of the information technology services provider’s stock valued at $2,012,000 after purchasing an additional 36 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of ServiceNow by 5.5% in the second quarter. Envestnet Asset Management Inc. now owns 593,884 shares of the information technology services provider’s stock valued at $610,550,000 after purchasing an additional 30,831 shares during the last quarter. Chilton Capital Management LLC grew its position in shares of ServiceNow by 128.0% in the second quarter. Chilton Capital Management LLC now owns 57 shares of the information technology services provider’s stock valued at $59,000 after purchasing an additional 32 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of ServiceNow by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 50,416 shares of the information technology services provider’s stock valued at $51,832,000 after purchasing an additional 2,065 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of ServiceNow by 28.6% in the second quarter. Resonant Capital Advisors LLC now owns 747 shares of the information technology services provider’s stock valued at $768,000 after purchasing an additional 166 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOW. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Cowen restated a “buy” rating on shares of ServiceNow in a research report on Friday. Citigroup raised their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.0%

Shares of NOW opened at $929.77 on Monday. The firm has a market cap of $193.39 billion, a PE ratio of 117.10, a price-to-earnings-growth ratio of 4.20 and a beta of 0.92. The company’s fifty day moving average is $917.85 and its two-hundred day moving average is $943.26. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two 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 Company 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.