295 Shares in ServiceNow, Inc. $NOW Acquired by QTR Family Wealth LLC

Key Points

• QTR Family Wealth LLC acquired 295 shares of ServiceNow, valued at approximately $303,000, during the second quarter, indicating strong institutional interest in the tech company.
• In recent insider trading, General Counsel Russell S. Elmer sold 1,698 shares, reducing his ownership by 28.16%, while Vice Chairman Nicholas Tzitzon sold 1,719 shares, decreasing his stake by 36.43%.
• ServiceNow reported earnings of $4.09 per share, beating estimates by $0.52, and experienced a 22.4% increase in revenue year-over-year, amounting to $3.22 billion.

QTR Family Wealth LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 295 shares of the information technology services provider's stock, valued at approximately $303,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Forbes J M & Co. LLP raised its stake in shares of ServiceNow by 96.1% in the second quarter. Forbes J M & Co. LLP now owns 10,922 shares of the information technology services provider's stock worth $11,229,000 after purchasing an additional 5,353 shares during the last quarter. Marino Stram & Associates LLC raised its stake in shares of ServiceNow by 3.9% in the second quarter. Marino Stram & Associates LLC now owns 369 shares of the information technology services provider's stock worth $379,000 after purchasing an additional 14 shares during the last quarter. Impact Capital Partners LLC raised its stake in shares of ServiceNow by 2.6% in the second quarter. Impact Capital Partners LLC now owns 676 shares of the information technology services provider's stock worth $695,000 after purchasing an additional 17 shares during the last quarter. Childress Capital Advisors LLC raised its stake in shares of ServiceNow by 11.9% in the second quarter. Childress Capital Advisors LLC now owns 669 shares of the information technology services provider's stock worth $688,000 after purchasing an additional 71 shares during the last quarter. Finally, PFG Investments LLC raised its stake in shares of ServiceNow by 6.2% in the second quarter. PFG Investments LLC now owns 1,695 shares of the information technology services provider's stock worth $1,743,000 after purchasing an additional 99 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $920.51 on Wednesday. The stock has a fifty day simple moving average of $918.47 and a two-hundred day simple moving average of $928.42. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market cap of $191.47 billion, a price-to-earnings ratio of 115.93, a price-to-earnings-growth ratio of 4.24 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. ServiceNow's revenue was up 22.4% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. DA Davidson increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Guggenheim reissued a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. BMO Capital Markets increased their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Raymond James Financial increased their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.