Vanguard Personalized Indexing Management LLC Acquires 4,904 Shares of ServiceNow, Inc. $NOW

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in ServiceNow, Inc. by 17.5%, acquiring 4,904 additional shares, bringing its total holdings to 32,905 shares valued at approximately $33.86 million.
• Insider trading activities revealed that Director Anita M. Sands and General Counsel Russell S. Elmer have sold shares, with Sands decreasing her position by 10.54% and Elmer by 28.16% in recent months.
• ServiceNow's stock is currently valued at $888.63, with analysts projecting a consensus target price of $1,122.20, reflecting a "Moderate Buy" outlook.

Vanguard Personalized Indexing Management LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,905 shares of the information technology services provider's stock after acquiring an additional 4,904 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in ServiceNow were worth $33,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% during the 1st 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 during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the 1st quarter valued at $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of ServiceNow during the 2nd quarter valued at $30,000. Finally, Dagco Inc. bought a new position in shares of ServiceNow during the 1st quarter valued at $33,000. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company's stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last three months. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Down 3.2%

NYSE:NOW opened at $888.63 on Friday. 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 firm has a market capitalization of $184.84 billion, a price-to-earnings ratio of 111.92, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The business has a fifty day moving average price of $909.21 and a 200-day moving average price of $932.27.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly 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 return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $3.13 EPS. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Piper Sandler increased their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and set a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Finally, JMP Securities restated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price 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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