Eagle Strategies LLC Acquires Shares of 296 ServiceNow, Inc. (NYSE:NOW)

Eagle Strategies LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel reports. The institutional investor bought 296 shares of the information technology services provider’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc increased its stake in shares of 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 buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the fourth quarter valued at about $29,000. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the 2nd quarter worth about $32,000. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction 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 sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler raised their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Stock Performance

Shares of NOW stock opened at $886.11 on Friday. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $889.52. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $182.54 billion, a PE ratio of 94.77, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The business has a 50-day simple moving average of $805.77 and a 200-day simple moving average of $765.81.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. On average, equities analysts expect 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.