ServiceNow, Inc. (NYSE:NOW) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc grew its position in ServiceNow, Inc. (NYSE:NOW) by 466.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34 shares of the information technology services provider’s stock after buying an additional 28 shares during the period. Versant Capital Management Inc’s holdings in ServiceNow were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $25,000. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. Sachetta LLC purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $35,000. Finally, Disciplined Equity Management Inc. purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, 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 accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,267 shares of company stock worth $6,992,504. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Truist Financial increased their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JMP Securities increased their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Piper Sandler boosted their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Price Performance

Shares of NOW stock traded up $11.22 during trading hours on Tuesday, hitting $792.49. The company’s stock had a trading volume of 1,545,509 shares, compared to its average volume of 1,343,316. The business has a fifty day moving average of $748.83 and a 200-day moving average of $754.44. The stock has a market cap of $162.46 billion, a price-to-earnings ratio of 84.76, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

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, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business earned $0.77 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current year.

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.