Chemistry Wealth Management LLC Invests $293,000 in ServiceNow, Inc. $NOW

Key Points

• Chemistry Wealth Management LLC has invested approximately $293,000 in ServiceNow, acquiring 285 shares of the information technology services provider's stock in the second quarter.
• ServiceNow has a current market capitalization of $193.45 billion and reported a quarterly revenue of $3.22 billion, a 22.4% year-over-year increase.
• Wall Street analysts are generally optimistic about ServiceNow, with an average rating of Moderate Buy and a raised price target of $1,115.20.

Chemistry Wealth Management LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 285 shares of the information technology services provider's stock, valued at approximately $293,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock valued at $15,522,335,000 after purchasing an additional 297,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock valued at $2,263,519,000 after purchasing an additional 188,292 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after purchasing an additional 87,876 shares in the last quarter. Finally, Nuveen LLC bought a new stake in ServiceNow in the first quarter valued at $1,817,535,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NOW shares. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Bank of America upped their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Finally, Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Trading Down 0.9%

NYSE:NOW opened at $930.04 on Monday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The business's 50-day moving average price is $927.34 and its two-hundred day moving average price is $922.34. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a PEG ratio of 4.18 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 earnings per share. The company's quarterly revenue was up 22.4% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated 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 transaction, the general counsel owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company's stock.

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.

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