Spartan Planning & Wealth Management Invests $395,000 in ServiceNow, Inc. $NOW

Key Points

• Spartan Planning & Wealth Management invested $395,000 in ServiceNow, purchasing 384 shares during the 2nd quarter, highlighting growing institutional interest in the company.
• ServiceNow reported a quarterly earnings per share (EPS) of $4.09, exceeding analyst expectations of $3.57 and demonstrating a year-over-year revenue increase of 22.4%.
• The company's stock has received positive ratings from multiple analysts, with an average price target of $1,122.20, reflecting strong confidence in its growth potential.

Spartan Planning & Wealth Management purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 384 shares of the information technology services provider's stock, valued at approximately $395,000.

Several other institutional investors also recently modified their holdings of NOW. Brighton Jones LLC grew its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the period. Versant Capital Management Inc grew its position in shares of ServiceNow by 66.5% during the 1st quarter. Versant Capital Management Inc now owns 268 shares of the information technology services provider's stock worth $213,000 after buying an additional 107 shares during the period. AdvisorNet Financial Inc grew its position in shares of ServiceNow by 20.9% during the 1st quarter. AdvisorNet Financial Inc now owns 156 shares of the information technology services provider's stock worth $124,000 after buying an additional 27 shares during the period. Rothschild Investment LLC grew its position in shares of ServiceNow by 43.7% during the 1st quarter. Rothschild Investment LLC now owns 500 shares of the information technology services provider's stock worth $398,000 after buying an additional 152 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in ServiceNow by 19.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,303 shares of the information technology services provider's stock valued at $1,834,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $940.05 on Tuesday. The stock has a market cap of $195.53 billion, a P/E ratio of 118.39, a P/E/G ratio of 4.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a fifty day moving average price of $919.33 and a two-hundred day moving average price of $928.48. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.13 earnings per share. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock worth $17,049,775 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Oppenheimer restated an "outperform" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Raymond James Financial boosted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,122.20.

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.

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