ServiceNow, Inc. $NOW Position Increased by ST Germain D J Co. Inc.

Key Points

• ST Germain D J Co. Inc. significantly increased its position in ServiceNow, Inc. by 9,959.2% during the second quarter, resulting in holdings worth approximately $5,067,000.
• Multiple institutional investors have ramped up their stakes in ServiceNow, such as Goldman Sachs Group Inc. which boosted its position by 131.4% in the first quarter.
• ServiceNow reported earnings of $4.09 per share, exceeding analysts' expectations, with a 22.4% year-over-year revenue increase to $3.22 billion.

ST Germain D J Co. Inc. increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9,959.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,929 shares of the information technology services provider's stock after buying an additional 4,880 shares during the period. ST Germain D J Co. Inc.'s holdings in ServiceNow were worth $5,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wealth Preservation Advisors LLC acquired a new position in ServiceNow during the first quarter valued at approximately $382,000. Corient IA LLC bought a new stake in ServiceNow during the 1st quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at approximately $1,820,000. Goldman Sachs Group Inc. increased its position in 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 buying an additional 840,731 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of ServiceNow during the first quarter worth approximately $19,278,000. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was 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 of the company's stock, valued at $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company's stock, valued at $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Down 1.5%

Shares of NYSE:NOW opened at $919.44 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 firm has a market cap of $191.24 billion, a P/E ratio of 115.80, a P/E/G ratio of 4.20 and a beta of 0.91. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company's 50-day moving average price is $920.28 and its two-hundred day moving average price is $925.55.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business earned $3.13 earnings per share. ServiceNow's quarterly revenue was up 22.4% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. DA Davidson upped their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Raymond James Financial lifted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,122.20.

About ServiceNow

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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