100,628 Shares in ServiceNow, Inc. $NOW Bought by OneDigital Investment Advisors LLC

Key Points

• OneDigital Investment Advisors acquired 100,628 ServiceNow shares in the second quarter, valued at approximately $9.99 million. Institutional investors collectively own 87.18% of the company’s stock.
• ServiceNow reported quarterly EPS of $0.90, exceeding estimates of $0.86, while revenue rose 24% year over year to $3.99 billion.
• Analysts maintain a largely positive view, with a consensus “Moderate Buy” rating and an average price target of $143.76, compared with shares opening at $124.08.

OneDigital Investment Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,628 shares of the information technology services provider's stock, valued at approximately $9,990,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Florida Financial Advisors LLC grew its position in shares of ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after buying an additional 14 shares during the period. Clark Capital Management Group Inc. increased its stake in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after acquiring an additional 18 shares in the last quarter. American Trust lifted its position in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after acquiring an additional 18 shares during the period. Morse Asset Management Inc lifted its position in ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after acquiring an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its stake in ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock worth $522,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NOW opened at $124.08 on Monday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company has a market capitalization of $128.29 billion, a P/E ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. The firm has a 50 day moving average of $107.08 and a 200 day moving average of $105.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm's quarterly revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. Piper Sandler restated an "overweight" rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. DA Davidson set a $170.00 price objective on ServiceNow and gave the company a "buy" rating in a research note on Monday, July 20th. Citizens Jmp reissued a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Cantor Fitzgerald increased their target price on ServiceNow from $122.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.76.

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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