LRI Investments LLC Takes $88,000 Position in ServiceNow, Inc. (NYSE:NOW)

LRI Investments LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 115 shares of the information technology services provider’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC lifted its stake in shares of ServiceNow by 82.7% in the first quarter. Virtu Financial LLC now owns 3,754 shares of the information technology services provider’s stock worth $2,861,000 after acquiring an additional 1,699 shares during the period. Wahed Invest LLC lifted its stake in shares of ServiceNow by 20.3% in the first quarter. Wahed Invest LLC now owns 4,180 shares of the information technology services provider’s stock worth $3,187,000 after acquiring an additional 704 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of ServiceNow by 41.5% in the first quarter. Citizens Financial Group Inc. RI now owns 975 shares of the information technology services provider’s stock worth $743,000 after acquiring an additional 286 shares during the period. Heartland Bank & Trust Co acquired a new position in shares of ServiceNow in the first quarter worth approximately $867,000. Finally, Kozak & Associates Inc. lifted its stake in shares of ServiceNow by 105.0% in the first quarter. Kozak & Associates Inc. now owns 937 shares of the information technology services provider’s stock worth $710,000 after acquiring an additional 480 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders sold a total of 7,330 shares of company stock valued at $5,482,012 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler boosted their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Trading Down 2.6 %

Shares of ServiceNow stock opened at $790.64 on Friday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $850.33. The firm has a market cap of $162.87 billion, a PE ratio of 84.56, a P/E/G ratio of 4.82 and a beta of 0.99. The stock has a fifty day moving average price of $747.96 and a 200-day moving average price of $753.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current year.

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.