ServiceNow, Inc. $NOW Shares Bought by AMI Asset Management Corp

AMI Asset Management Corp raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 79.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,778 shares of the information technology services provider's stock after purchasing an additional 17,650 shares during the quarter. ServiceNow comprises approximately 2.3% of AMI Asset Management Corp's portfolio, making the stock its 23rd largest holding. AMI Asset Management Corp's holdings in ServiceNow were worth $40,895,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth $1,820,000. Goldman Sachs Group Inc. lifted its stake 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 during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow in the 1st quarter worth $19,278,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NOW shares. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Bank of America raised their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Piper Sandler raised their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Guggenheim reissued a "sell" rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 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 transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 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 $1,353,394.90. Following the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock worth $16,798,825. Insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.9%

NYSE:NOW opened at $912.13 on Thursday. The company has a market capitalization of $189.72 billion, a PE ratio of 114.88, a price-to-earnings-growth ratio of 4.15 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 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a fifty day simple moving average of $917.56 and a 200-day simple moving average of $928.31.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.13 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.