ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 18.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,017 shares of the information technology services provider’s stock after acquiring an additional 318 shares during the quarter. Atomi Financial Group Inc.’s holdings in ServiceNow were worth $1,587,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its position in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the fourth quarter valued at $29,000. Finally, Sachetta LLC bought a new position in ServiceNow during the 4th quarter valued at $35,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW traded up $3.88 during midday trading on Tuesday, reaching $831.74. The stock had a trading volume of 479,571 shares, compared to its average volume of 1,293,393. The firm’s 50 day moving average price is $784.05 and its 200-day moving average price is $759.14. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $850.33. The company has a market capitalization of $170.51 billion, a P/E ratio of 88.96, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company earned $0.77 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,272 shares of company stock worth $5,600,700. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Thursday, July 25th. JMP Securities increased their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.