Perpetual Ltd Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Perpetual Ltd boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 5,549 shares of the information technology services provider’s stock after acquiring an additional 220 shares during the quarter. Perpetual Ltd’s holdings in ServiceNow were worth $4,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Morling Financial Advisors LLC grew its position in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares in the last quarter. Optas LLC increased its position in shares of ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares during the period. Cedar Wealth Management LLC lifted its holdings in shares of ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 14 shares during the period. Finally, Ndwm LLC grew its stake in ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade 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 other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOW. Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Truist Financial lifted their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. KeyCorp decreased their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. TD Cowen lifted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $875.81.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $944.87 on Friday. The stock has a market capitalization of $194.64 billion, a P/E ratio of 170.86, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.00. 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 business’s 50 day simple moving average is $855.54 and its two-hundred day simple moving average is $783.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. Analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

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.