Natural Investments LLC Has $3.90 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Natural Investments LLC has reduced its stake in ServiceNow, Inc. by 8.8%, holding a total of 3,796 shares now worth approximately $3.90 million.
• Insider activity shows significant sales, with Vice Chairman Nicholas Tzitzon selling 1,719 shares for over $1.48 million, decreasing ownership by 36.43%.
• Several analysts have upgraded ServiceNow's stock with price targets reaching as high as $1,300, indicating a strong market sentiment despite recent trading fluctuations.

Natural Investments LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,796 shares of the information technology services provider's stock after selling 365 shares during the period. ServiceNow accounts for 1.0% of Natural Investments LLC's holdings, making the stock its 20th largest holding. Natural Investments LLC's holdings in ServiceNow were worth $3,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NOW. Bogart Wealth LLC boosted its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter worth $30,000. Finally, Dagco Inc. bought a new stake in shares of ServiceNow in the first quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. Piper Sandler boosted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,122.20.

ServiceNow Price Performance

NOW stock opened at $888.63 on Friday. The firm has a market cap of $184.84 billion, a price-to-earnings ratio of 111.92, a PEG ratio of 4.13 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. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company's fifty day simple moving average is $909.21 and its 200 day simple moving average is $931.62.

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, beating the consensus estimate 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 net margin of 13.78% and a return on equity of 18.04%. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.13 earnings per share. On average, 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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