Sargent Investment Group LLC Takes $205,000 Position in ServiceNow, Inc. (NYSE:NOW)

Sargent Investment Group LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 261 shares of the information technology services provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Conscious Wealth Investments LLC increased its holdings in ServiceNow by 0.6% in the 2nd quarter. Conscious Wealth Investments LLC now owns 3,623 shares of the information technology services provider’s stock valued at $2,773,000 after buying an additional 21 shares during the period. Moors & Cabot Inc. boosted its position in shares of ServiceNow by 1,344.2% during the 2nd quarter. Moors & Cabot Inc. now owns 9,503 shares of the information technology services provider’s stock worth $7,476,000 after acquiring an additional 8,845 shares in the last quarter. Lmcg Investments LLC increased its stake in ServiceNow by 2.6% in the second quarter. Lmcg Investments LLC now owns 16,557 shares of the information technology services provider’s stock valued at $13,025,000 after acquiring an additional 414 shares during the last quarter. WealthPLAN Partners LLC raised its position in ServiceNow by 3.8% during the second quarter. WealthPLAN Partners LLC now owns 3,258 shares of the information technology services provider’s stock valued at $2,563,000 after purchasing an additional 118 shares in the last quarter. Finally, Montag & Caldwell LLC bought a new stake in ServiceNow during the second quarter worth $9,151,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. 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. Guggenheim reissued a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Piper Sandler raised their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Performance

NYSE:NOW opened at $886.77 on Wednesday. The company has a market capitalization of $181.79 billion, a PE ratio of 94.84, a P/E/G ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $899.61. 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 company has a 50 day simple moving average of $812.61 and a two-hundred day simple moving average of $768.20.

ServiceNow (NYSE:NOW) last announced 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. The business had revenue of $2.63 billion during 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%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

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.