Americana Partners LLC Acquires 604 Shares of ServiceNow, Inc. (NYSE:NOW)

Americana Partners LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,339 shares of the information technology services provider’s stock after acquiring an additional 604 shares during the quarter. Americana Partners LLC’s holdings in ServiceNow were worth $7,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NOW. M&G Plc purchased a new position in shares of ServiceNow during the first quarter valued at approximately $11,030,000. Smithfield Trust Co raised its stake in ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after buying an additional 262 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after acquiring an additional 1,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Summa Corp. bought a new position in shares of ServiceNow during the fourth quarter valued at $381,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ServiceNow 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 transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,129 shares of company stock worth $5,759,436. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock traded up $23.73 during trading hours on Friday, reaching $855.00. 1,920,980 shares of the company traded hands, compared to its average volume of 1,294,300. The firm has a 50-day moving average price of $791.80 and a 200 day moving average price of $760.63. The company has a market cap of $175.28 billion, a P/E ratio of 91.44, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month 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 issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. TD Cowen increased 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. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Truist Financial increased their target price on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

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.