ServiceNow, Inc. (NYSE:NOW) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 186.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,822 shares of the information technology services provider’s stock after purchasing an additional 1,186 shares during the period. SteelPeak Wealth LLC’s holdings in ServiceNow were worth $1,433,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter valued at $1,648,259,000. Swedbank AB bought a new stake in ServiceNow in the 1st quarter valued at about $897,908,000. Global Assets Advisory LLC acquired a new position in ServiceNow during the 1st quarter valued at about $403,034,000. Vanguard Group Inc. grew its position in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares in the company, valued at approximately $9,819,715.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The disclosure for this sale can be found here. Insiders sold 9,943 shares of company stock worth $7,566,635 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded up $13.09 during trading on Thursday, reaching $832.11. 1,088,603 shares of the company traded hands, compared to its average volume of 1,325,565. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50 day moving average price is $765.31 and its two-hundred day moving average price is $756.61. The company has a market cap of $170.58 billion, a price-to-earnings ratio of 87.60, a P/E/G ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOW shares. JMP Securities increased their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Wolfe Research reissued an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a report on Friday, May 10th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow 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.