7,505 Shares in ServiceNow, Inc. $NOW Acquired by Trivium Point Advisory LLC

Trivium Point Advisory LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,505 shares of the information technology services provider’s stock, valued at approximately $745,000.

Several other large investors have also recently bought and sold shares of the company. Covenant Asset Management LLC boosted its holdings in shares of ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at about $2,020,992,000. World Investment Advisors lifted its position in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. lifted its position in ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Torray Investment Partners LLC boosted its stake in ServiceNow by 390.5% in the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock worth $6,224,000 after buying an additional 32,345 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wolfe Research set a $125.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Robert W. Baird boosted their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.76.

ServiceNow Stock Performance

Shares of NOW stock opened at $124.08 on Monday. The company has a market capitalization of $128.29 billion, a P/E ratio of 77.55, a PEG ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $107.08 and a two-hundred day moving average price of $105.59.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue was up 24.0% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.