Jacobsen Capital Management Has $456,000 Stock Position in ServiceNow, Inc. $NOW

Jacobsen Capital Management boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 33.7% in the 2nd quarter, Holdings Channel reports. The firm owned 444 shares of the information technology services provider’s stock after buying an additional 112 shares during the period. Jacobsen Capital Management’s holdings in ServiceNow were worth $456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in ServiceNow in the first quarter valued at about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after acquiring an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ServiceNow by 131.4% in the 1st 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 in the last quarter. Parnassus Investments LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at approximately $519,806,000. Finally, Amundi increased its position in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after purchasing an additional 626,623 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NOW. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Piper Sandler upped their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. UBS Group cut their price target on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

ServiceNow Price Performance

Shares of NOW opened at $942.56 on Wednesday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. 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 company has a market capitalization of $196.05 billion, a price-to-earnings ratio of 118.71, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The business has a 50-day moving average of $913.34 and a 200-day moving average of $938.13.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating 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 business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business posted $3.13 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts anticipate 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.