Choreo LLC Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Choreo LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 916.9% during the 2nd quarter, Holdings Channel reports. The firm owned 7,983 shares of the information technology services provider’s stock after buying an additional 7,198 shares during the quarter. Choreo LLC’s holdings in ServiceNow were worth $6,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% during the second 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 last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow in the 2nd quarter valued at about $32,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred 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 transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 3.7 %

Shares of ServiceNow stock opened at $855.62 on Tuesday. 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 stock has a market cap of $176.26 billion, a price-to-earnings ratio of 91.51, a PEG ratio of 4.95 and a beta of 0.98. The firm’s 50-day moving average is $800.67 and its two-hundred day moving average is $763.57. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $863.85.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm 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 company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NOW shares. Royal Bank of Canada upped their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Monday. BMO Capital Markets increased their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. 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. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

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.