SteelPeak Wealth LLC Acquires 1,186 Shares of ServiceNow, Inc. (NYSE:NOW)

SteelPeak Wealth LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 186.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,822 shares of the information technology services provider’s stock after buying an additional 1,186 shares during the quarter. SteelPeak Wealth LLC’s holdings in ServiceNow were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Salvus Wealth Management LLC increased its holdings in ServiceNow by 4.6% in the 2nd quarter. Salvus Wealth Management LLC now owns 907 shares of the information technology services provider’s stock worth $714,000 after acquiring an additional 40 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in ServiceNow by 55.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider’s stock worth $1,047,000 after acquiring an additional 477 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in ServiceNow by 4.2% in the 2nd quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider’s stock valued at $957,000 after buying an additional 51 shares during the period. Redhawk Wealth Advisors Inc. increased its position in shares of ServiceNow by 4.4% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider’s stock valued at $356,000 after purchasing an additional 19 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its stake in ServiceNow by 4.2% in the second quarter. Oak Ridge Investments LLC now owns 9,915 shares of the information technology services provider’s stock valued at $7,800,000 after purchasing an additional 404 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NOW shares. Wells Fargo & Company upped their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Thursday, July 25th. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $842.22.

ServiceNow Price Performance

NOW traded up $13.09 on Thursday, hitting $832.11. 1,088,603 shares of the company’s stock traded hands, compared to its average volume of 1,325,565. The company’s 50 day simple moving average is $765.31 and its 200-day simple moving average is $756.61. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The firm has a market cap of $170.58 billion, a price-to-earnings ratio of 87.60, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

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, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the sale, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 602 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,943 shares of company stock worth $7,566,635. 0.25% of the stock is owned by company insiders.

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.