Bank Hapoalim BM Takes Position in ServiceNow, Inc. $NOW

Key Points

• Bank Hapoalim acquired a new 26,753-share stake in ServiceNow during the second quarter, valued at approximately $2.66 million. Institutional investors collectively own 87.18% of the company.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $143.76; recent targets ranged from $115 to $140.
• ServiceNow exceeded quarterly expectations, reporting $0.90 in adjusted EPS versus $0.86 expected and $3.99 billion in revenue, up 24% year over year.

Bank Hapoalim BM purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 26,753 shares of the information technology services provider's stock, valued at approximately $2,656,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BIP Wealth LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $555,000. Trifecta Capital Advisors LLC bought a new position in ServiceNow in the 2nd quarter worth about $4,053,000. Summit Global Investments bought a new position in ServiceNow in the 2nd quarter worth about $307,000. Oppenheimer Asset Management Inc. purchased a new position in ServiceNow during the 2nd quarter valued at about $28,537,000. Finally, Bryn Mawr Trust Advisors LLC purchased a new position in ServiceNow during the 2nd quarter valued at about $491,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. Citigroup reissued a "market outperform" rating on shares of ServiceNow in a report on Thursday, July 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Barclays reiterated an "overweight" rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Robert W. Baird boosted their price target on shares of ServiceNow from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $143.76.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.34% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $124.08 on Friday. The company's fifty day moving average price is $107.08 and its 200-day moving average price is $105.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $128.29 billion, a price-to-earnings ratio of 77.55, a PEG ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73.

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

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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