Private Ocean LLC Purchases 18 Shares of ServiceNow, Inc. (NYSE:NOW)

Private Ocean LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 29.0% during the second quarter, HoldingsChannel.com reports. The fund owned 80 shares of the information technology services provider’s stock after buying an additional 18 shares during the quarter. Private Ocean LLC’s holdings in ServiceNow were worth $63,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NOW. Optas LLC lifted its holdings in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the last quarter. Cedar Wealth Management LLC lifted its stake in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 14 shares during the period. Forbes J M & Co. LLP increased its stake in ServiceNow by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after purchasing an additional 15 shares during the period. Finally, Regent Peak Wealth Advisors LLC boosted its stake in shares of ServiceNow by 3.9% during the first quarter. Regent Peak Wealth Advisors LLC now owns 400 shares of the information technology services provider’s stock valued at $305,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird upped their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Thursday, July 25th. TD Cowen boosted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $849.62.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,129 shares of company stock worth $5,759,436. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.9 %

ServiceNow stock traded up $23.73 during mid-day trading on Friday, reaching $855.00. The stock had a trading volume of 1,920,980 shares, compared to its average volume of 1,294,300. The company has a market capitalization of $175.28 billion, a price-to-earnings ratio of 91.44, a PEG ratio of 4.82 and a beta of 0.99. The company has a 50-day moving average price of $791.80 and a two-hundred day moving average price of $760.63. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $857.25. 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 announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts expect that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

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.