Linscomb Wealth Inc. Buys 153 Shares of ServiceNow, Inc. (NYSE:NOW)

Linscomb Wealth Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,334 shares of the information technology services provider’s stock after purchasing an additional 153 shares during the quarter. Linscomb Wealth Inc.’s holdings in ServiceNow were worth $1,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quadrature Capital Ltd boosted its position in shares of ServiceNow by 517.7% during the 1st quarter. Quadrature Capital Ltd now owns 36,005 shares of the information technology services provider’s stock valued at $27,422,000 after acquiring an additional 30,176 shares during the last quarter. Cloverfields Capital Group LP raised its stake in ServiceNow by 5.4% during the first quarter. Cloverfields Capital Group LP now owns 4,093 shares of the information technology services provider’s stock valued at $3,121,000 after purchasing an additional 208 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in ServiceNow by 73.0% during the first quarter. Canada Pension Plan Investment Board now owns 398,833 shares of the information technology services provider’s stock valued at $304,070,000 after purchasing an additional 168,283 shares during the last quarter. Guardian Capital LP grew its stake in shares of ServiceNow by 15.0% in the 1st quarter. Guardian Capital LP now owns 1,507 shares of the information technology services provider’s stock worth $1,149,000 after buying an additional 197 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of ServiceNow in the 1st quarter worth about $271,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. Piper Sandler increased their price target on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird raised their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $833.57.

ServiceNow Stock Down 0.1 %

Shares of NOW traded down $1.18 during midday trading on Friday, reaching $827.61. 2,410,057 shares of the stock were exchanged, compared to its average volume of 1,525,403. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $744.03 and its two-hundred day moving average is $751.29. The company has a market capitalization of $169.66 billion, a P/E ratio of 88.51, a PEG ratio of 5.20 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $850.33.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Activity

In related news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

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.