ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,987 shares of the information technology services provider's stock after acquiring an additional 342 shares during the quarter. Linscomb Wealth Inc.'s holdings in ServiceNow were worth $2,378,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. SouthState Corp grew its holdings in shares of ServiceNow by 1.3% in the 1st quarter. SouthState Corp now owns 20,342 shares of the information technology services provider's stock worth $16,195,000 after acquiring an additional 263 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ServiceNow in the first quarter worth $1,817,535,000. Aigen Investment Management LP acquired a new stake in shares of ServiceNow in the first quarter worth $895,000. King Luther Capital Management Corp boosted its position in shares of ServiceNow by 5.5% in the first quarter. King Luther Capital Management Corp now owns 1,079 shares of the information technology services provider's stock worth $859,000 after buying an additional 56 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of ServiceNow by 214.5% in the first quarter. Virtu Financial LLC now owns 23,640 shares of the information technology services provider's stock worth $18,820,000 after buying an additional 16,123 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lawrence Jackson sold 757 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total transaction of $749,808.50. Following the transaction, the director directly owned 588 shares in the company, valued at $582,414. The trade was a 56.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock valued at $5,318,667 in the last ninety days. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.3%

ServiceNow stock opened at $871.70 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50-day simple moving average is $982.92 and its 200-day simple moving average is $942.17. The firm has a market capitalization of $181.31 billion, a PE ratio of 109.79, a PEG ratio of 3.93 and a beta of 0.93. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 18.04% and a net margin of 13.78%. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.13 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of several recent analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $1,003.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Evercore ISI raised their target price on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target 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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