ERn Financial LLC Buys Shares of 250 ServiceNow, Inc. (NYSE:NOW)

ERn Financial LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 250 shares of the information technology services provider’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB purchased a new stake in shares of ServiceNow during the 1st quarter worth about $897,908,000. Global Assets Advisory LLC acquired a new stake in ServiceNow in the first quarter valued at approximately $403,034,000. Vanguard Group Inc. grew its position in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of ServiceNow during the 2nd quarter worth $218,786,000. Finally, Acadian Asset Management LLC raised its holdings in shares of ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,914 shares of company stock worth $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, KeyCorp decreased their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $887.73.

ServiceNow Trading Down 1.0 %

NOW stock opened at $918.87 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $188.37 billion, a price-to-earnings ratio of 98.27, a P/E/G ratio of 5.63 and a beta of 0.99. The business has a fifty day moving average price of $869.98 and a 200 day moving average price of $789.79. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

ServiceNow (NYSE:NOW) last released 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal 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.