Laffer Tengler Investments Inc. Purchases 452 Shares of ServiceNow, Inc. $NOW

Key Points

• Laffer Tengler Investments Inc. increased its stake in ServiceNow, Inc. by 5.1%, acquiring an additional 452 shares during the first quarter, bringing its total holdings to 9,304 shares worth approximately $7.4 million.
• Multiple large investors, including RPG Investment Advisory LLC, significantly raised their stakes in ServiceNow, with RPG increasing its ownership by 158.2% during the same period.
• ServiceNow's stock has attracted positive attention from analysts, with several firms upgrading their ratings and increasing price targets, including Stifel Nicolaus, which raised its target from $975 to $1,050.

Laffer Tengler Investments Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,304 shares of the information technology services provider's stock after purchasing an additional 452 shares during the period. ServiceNow comprises 1.6% of Laffer Tengler Investments Inc.'s portfolio, making the stock its 24th largest holding. Laffer Tengler Investments Inc.'s holdings in ServiceNow were worth $7,407,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. RPG Investment Advisory LLC increased its stake in ServiceNow by 158.2% in the 1st quarter. RPG Investment Advisory LLC now owns 39,166 shares of the information technology services provider's stock worth $31,182,000 after buying an additional 23,996 shares in the last quarter. Circle Wealth Management LLC lifted its holdings in ServiceNow by 20.9% in the 1st quarter. Circle Wealth Management LLC now owns 3,262 shares of the information technology services provider's stock worth $2,597,000 after purchasing an additional 565 shares in the last quarter. Compound Planning Inc. boosted its stake in ServiceNow by 8.0% in the 1st quarter. Compound Planning Inc. now owns 2,412 shares of the information technology services provider's stock worth $1,921,000 after purchasing an additional 179 shares during the period. Bragg Financial Advisors Inc bought a new position in ServiceNow in the 1st quarter worth approximately $1,219,000. Finally, Norinchukin Bank The grew its holdings in ServiceNow by 16.4% during the 1st quarter. Norinchukin Bank The now owns 11,505 shares of the information technology services provider's stock valued at $9,160,000 after buying an additional 1,620 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the firm's 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 completion of the sale, the general counsel owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value 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 trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,096 shares of company stock valued at $14,807,562. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and lifted their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Mizuho raised their target price 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. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $877.6850 on Friday. 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 fifty day moving average is $957.04 and its two-hundred day moving average is $930.56. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a market capitalization of $182.56 billion, a PE ratio of 110.54, a price-to-earnings-growth ratio of 4.01 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $3.13 earnings per share. ServiceNow's revenue was up 22.4% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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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