Intellectus Partners LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Intellectus Partners LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,118 shares of the information technology services provider’s stock after buying an additional 80 shares during the period. Intellectus Partners LLC’s holdings in ServiceNow were worth $1,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Selective Wealth Management Inc. bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $30,000. Wolverine Asset Management LLC lifted its position in ServiceNow by 1,160.0% in the 1st quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 58 shares in the last quarter. SRS Capital Advisors Inc. bought a new position in ServiceNow in the 2nd quarter valued at approximately $33,000. Lloyd Advisory Services LLC. lifted its position in ServiceNow by 48.8% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 61 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 20 shares in the last quarter. Finally, Bedel Financial Consulting Inc. raised its stake in ServiceNow by 97.0% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 65 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.

In other ServiceNow news, CFO Gina Mastantuono sold 578 shares of the firm’s stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $618.02, for a total transaction of $357,215.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 75 shares of ServiceNow stock in a transaction dated Wednesday, September 29th. The stock was sold at an average price of $620.00, for a total transaction of $46,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,861 shares of company stock worth $18,888,544. Insiders own 0.35% of the company’s stock.

NYSE NOW traded up $17.18 during trading hours on Thursday, hitting $656.59. 23,174 shares of the company’s stock traded hands, compared to its average volume of 1,367,600. ServiceNow, Inc. has a 52-week low of $448.27 and a 52-week high of $681.10. The company has a market capitalization of $130.07 billion, a PE ratio of 773.82, a PEG ratio of 17.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50-day moving average is $628.06 and its 200-day moving average is $559.63.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 28th. The information technology services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.16 by $1.26. ServiceNow had a net margin of 3.30% and a return on equity of 9.10%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. Equities research analysts predict that ServiceNow, Inc. will post 1.35 earnings per share for the current fiscal year.

NOW has been the subject of a number of research reports. KeyCorp boosted their target price on shares of ServiceNow from $660.00 to $718.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. DZ Bank assumed coverage on ServiceNow in a research note on Wednesday, September 22nd. They issued a “buy” rating and a $725.00 price objective for the company. Royal Bank of Canada upped their price objective on ServiceNow from $640.00 to $670.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Piper Sandler upped their price objective on ServiceNow from $550.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th. Finally, Canaccord Genuity upped their price objective on ServiceNow from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Two equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Buy” and a consensus price target of $653.97.

About ServiceNow

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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