Victory Capital Management Inc. Has $198.28 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Victory Capital Management Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,054 shares of the information technology services provider’s stock after buying an additional 38,462 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of ServiceNow worth $198,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the 4th quarter worth approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NOW shares. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. BMO Capital Markets lifted their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’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 approximately $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $835.35 on Friday. The stock has a 50 day simple moving average of $798.57 and a 200 day simple moving average of $762.37. The stock has a market cap of $171.25 billion, a P/E ratio of 89.34, a PEG ratio of 5.13 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $863.85. 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 (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Company 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.