Nicholas Hoffman & Company LLC. Has $530,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Nicholas Hoffman & Company LLC. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 28.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 674 shares of the information technology services provider’s stock after acquiring an additional 149 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in ServiceNow were worth $530,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. M&G Plc acquired a new position in shares of ServiceNow in the first quarter valued at $11,030,000. Smithfield Trust Co lifted its holdings in shares of ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after acquiring an additional 262 shares during the period. New Mexico Educational Retirement Board lifted its holdings in shares of ServiceNow by 9.4% during the 1st 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 during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Summa Corp. acquired a new position in ServiceNow in the fourth quarter worth about $381,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOW shares. Piper Sandler lifted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JMP Securities boosted their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wolfe Research restated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Thursday, July 25th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

ServiceNow Trading Up 0.4 %

NOW stock traded up $2.94 during midday trading on Thursday, reaching $837.77. The company’s stock had a trading volume of 115,598 shares, compared to its average volume of 1,283,795. The business’s 50-day simple moving average is $797.34 and its 200-day simple moving average is $761.85. The stock has a market cap of $171.74 billion, a PE ratio of 89.29, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $863.85. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.77 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on 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 sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.