Willner & Heller LLC Acquires 302 Shares of ServiceNow, Inc. $NOW

Key Points

• Willner & Heller LLC increased its stake in ServiceNow, Inc. by 83.9% during the second quarter, owning a total of 662 shares worth approximately $681,000.
• Company insiders sold a significant number of shares, with Jacqueline P. Canney and CFO Gina Mastantuono each selling shares valued at over $1 million, indicating a 34.04% and 12.59% decrease in their holdings, respectively.
• Analysts have raised their price targets for ServiceNow, with BMO Capital Markets and other firms increasing their projections above $1,150, reflecting a consensus target price of $1,122.20.

Willner & Heller LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 83.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 662 shares of the information technology services provider's stock after acquiring an additional 302 shares during the quarter. Willner & Heller LLC's holdings in ServiceNow were worth $681,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC increased its position 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 purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the 1st quarter valued at about $26,000. WASHINGTON TRUST Co increased its position 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 purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of ServiceNow during the 2nd quarter valued at about $30,000. Finally, Dagco Inc. bought a new position in shares of ServiceNow during the 1st quarter valued at about $33,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% 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 over the last quarter. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Up 0.2%

NYSE NOW opened at $911.75 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. 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 stock has a 50 day simple moving average of $914.67 and a two-hundred day simple moving average of $929.33. The stock has a market cap of $189.64 billion, a P/E ratio of 114.83, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $3.12 billion. During the same quarter last year, the business posted $3.13 EPS. The business's revenue was up 22.4% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent research reports. BMO Capital Markets increased their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. DA Davidson raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Piper Sandler raised their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Bank of America raised their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company 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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