Atomi Financial Group Inc. Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Atomi Financial Group Inc. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 18.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,017 shares of the information technology services provider’s stock after buying an additional 318 shares during the period. Atomi Financial Group Inc.’s holdings in ServiceNow were worth $1,587,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NOW. Norges Bank bought a new position in ServiceNow during the fourth quarter worth about $1,648,259,000. Swedbank AB purchased a new position in ServiceNow in the 1st quarter valued at approximately $897,908,000. Global Assets Advisory LLC bought a new stake in ServiceNow during the 1st quarter valued at $403,034,000. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position 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 in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s 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 owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, 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 value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,272 shares of company stock valued at $5,600,700. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.5 %

NYSE NOW traded up $3.88 during trading on Tuesday, hitting $831.74. The company had a trading volume of 479,571 shares, compared to its average volume of 1,293,393. The company’s fifty day moving average is $784.05 and its 200-day moving average is $759.14. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $170.51 billion, a price-to-earnings ratio of 88.96, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets raised their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Thursday, July 25th. Truist Financial boosted their target price on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, Royal Bank of Canada boosted their price objective on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.