Cwm LLC Purchases 2,569 Shares of ServiceNow, Inc. $NOW

Key Points

• Cwm LLC increased its stake in ServiceNow, Inc. by 28.1% during the 2nd quarter, purchasing 2,569 shares for a total holding value of $12,053,000.
• Multiple institutional investors have modified their positions, with Vanguard Group raising its stake by 1.6% and Amundi increasing its holdings by 61.9% in the same period.
• ServiceNow's quarterly earnings surpassed estimates with an EPS of $4.09 and a revenue of $3.22 billion, reflecting a 22.4% year-over-year increase.

Cwm LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,724 shares of the information technology services provider's stock after buying an additional 2,569 shares during the quarter. Cwm LLC's holdings in ServiceNow were worth $12,053,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of ServiceNow by 7.1% in the 1st 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 worth $2,263,519,000 after purchasing an additional 188,292 shares during the period. Nuveen LLC bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $1,817,535,000. Alliancebernstein L.P. raised its holdings in shares of ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider's stock worth $1,379,461,000 after purchasing an additional 242,132 shares during the period. Finally, Amundi raised its holdings in shares of ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock worth $1,269,777,000 after purchasing an additional 626,623 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares of the company's stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,737 shares of company stock worth $16,798,825. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $923.44 on Tuesday. The firm has a market capitalization of $192.07 billion, a P/E ratio of 116.30, a P/E/G ratio of 4.00 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock's 50-day simple moving average is $909.24 and its two-hundred day simple moving average is $933.88. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Bank of America boosted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a research report on Thursday, July 24th. Finally, UBS Group dropped their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,122.20.

ServiceNow 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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