Drucker Wealth 3.0 LLC Makes New Investment in ServiceNow, Inc. $NOW

Key Points

• Drucker Wealth 3.0 LLC has made a new investment in ServiceNow, Inc., purchasing 336 shares valued at approximately $341,000 during the 2nd quarter.
• ServiceNow reported earnings of $4.09 per share for its last quarter, exceeding analyst expectations and demonstrating a 22.4% increase in revenue compared to the previous year.
• Institutional investors now own 87.18% of ServiceNow's stock, reflecting significant interest from larger investment firms.

Drucker Wealth 3.0 LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 336 shares of the information technology services provider's stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock valued at $2,689,000 after acquiring an additional 308 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of ServiceNow by 13.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 1,570 shares of the information technology services provider's stock valued at $1,251,000 after acquiring an additional 187 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its position in shares of ServiceNow by 79.7% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 496 shares of the information technology services provider's stock valued at $395,000 after acquiring an additional 220 shares during the last quarter. Finally, Matauro LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at about $599,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 3.2%

Shares of NYSE:NOW opened at $888.63 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $184.84 billion, a PE ratio of 111.92, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. The firm's 50-day moving average is $909.21 and its two-hundred day moving average is $932.27. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,452 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Raymond James Financial boosted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Bank of America boosted their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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