Everpar Advisors LLC Acquires Shares of 322 ServiceNow, Inc. $NOW

Everpar Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 322 shares of the information technology services provider's stock, valued at approximately $331,000.

A number of other large investors have also recently made changes to their positions in NOW. GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Nuveen LLC bought a new stake in ServiceNow during the 1st quarter valued at approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after acquiring an additional 877,875 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at approximately $519,806,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 1.6%

NYSE NOW opened at $932.28 on Wednesday. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market capitalization of $193.91 billion, a price-to-earnings ratio of 117.42, a PEG ratio of 4.27 and a beta of 0.91. 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 company has a fifty day moving average of $923.80 and a two-hundred day moving average of $922.54.

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 (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $3.13 EPS. The business's revenue was up 22.4% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In related news, Director Anita M. Sands sold 1,097 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director owned 9,307 shares in the company, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 in the last three months. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays set a $1,210.00 price objective on ServiceNow in a research note on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Mizuho increased their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

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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