Transcend Capital Advisors LLC Has $1.98 Million Stock Position in ServiceNow, Inc. $NOW

Transcend Capital Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,928 shares of the information technology services provider’s stock after purchasing an additional 279 shares during the period. Transcend Capital Advisors LLC’s holdings in ServiceNow were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in shares of ServiceNow during the first quarter valued at about $382,000. Corient IA LLC acquired a new position in shares of ServiceNow during the first quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow in the first quarter valued at $1,820,000. ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow in the first quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 840,731 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’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 transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,980 shares of company stock worth $16,049,017. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 1.8%

NOW opened at $947.33 on Tuesday. The business has a 50 day simple moving average of $918.98 and a two-hundred day simple moving average of $944.11. The firm has a market capitalization of $197.05 billion, a price-to-earnings ratio of 119.31, a PEG ratio of 4.20 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. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Cowen reiterated a “buy” rating on shares of ServiceNow in a research note on Friday. Raymond James Financial lifted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Citigroup increased 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 note on Thursday, July 24th. Finally, BMO Capital Markets raised their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

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.