10,344 Shares in ServiceNow, Inc. $NOW Acquired by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC acquired 10,344 ServiceNow shares during the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 87.18% of the company.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year and above estimates, while adjusted earnings of $0.90 per share exceeded consensus by $0.04.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $143.76, compared with the stock’s reported price of $124.08.

Simplicity Wealth LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,344 shares of the information technology services provider's stock, valued at approximately $1,027,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $124.08 on Monday. The firm has a fifty day moving average of $107.08 and a two-hundred day moving average of $105.59. The firm has a market cap of $128.29 billion, a P/E ratio of 77.55, a P/E/G ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Bank of America started coverage on shares of ServiceNow in a report on Monday, May 18th. They set a "buy" rating and a $130.00 target price on the stock. KeyCorp reaffirmed an "underweight" rating on shares of ServiceNow in a research report on Tuesday, July 21st. Raymond James Financial lowered their price target on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Finally, Benchmark reissued a "buy" rating on shares of ServiceNow in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $143.76.

ServiceNow Company Profile

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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