ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Clearstead Trust LLC

Clearstead Trust LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,705 shares of the information technology services provider’s stock after buying an additional 37 shares during the quarter. ServiceNow comprises 0.9% of Clearstead Trust LLC’s portfolio, making the stock its 23rd largest holding. Clearstead Trust LLC’s holdings in ServiceNow were worth $3,701,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter worth about $29,000. EntryPoint Capital LLC lifted its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s 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 owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated 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 owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $892.63 on Tuesday. The stock’s fifty day simple moving average is $809.74 and its 200 day simple moving average is $767.40. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $897.99. The firm has a market cap of $182.99 billion, a price-to-earnings ratio of 95.47, a P/E/G ratio of 5.25 and a beta of 0.98. 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 earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The company 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 firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NOW shares. Wells Fargo & Company lifted their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JMP Securities raised their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, 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. One equities research 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 stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target 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.