Walter Public Investments Inc. Purchases 2,171 Shares of ServiceNow, Inc. (NYSE:NOW)

Walter Public Investments Inc. grew its position in ServiceNow, Inc. (NYSE:NOW) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,461 shares of the information technology services provider’s stock after purchasing an additional 2,171 shares during the period. ServiceNow makes up approximately 3.4% of Walter Public Investments Inc.’s holdings, making the stock its 9th largest holding. Walter Public Investments Inc.’s holdings in ServiceNow were worth $18,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&G Plc acquired a new position in shares of ServiceNow in the 1st quarter valued at about $11,030,000. New Mexico Educational Retirement Board lifted its stake in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of ServiceNow by 375.6% in 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 purchasing an additional 1,078 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after purchasing an additional 56 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $878.95 on Monday. The company has a market capitalization of $181.06 billion, a price-to-earnings ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The business has a 50 day simple moving average of $807.22 and a 200-day simple moving average of $766.54. 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, Inc. has a twelve month low of $527.24 and a twelve month high of $889.52.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction 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 document filed with the SEC, which is available through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Truist Financial boosted their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Royal Bank of Canada boosted their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

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.