Heritage Investors Management Corp Acquires 253 Shares of ServiceNow, Inc. $NOW

Heritage Investors Management Corp raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,354 shares of the information technology services provider’s stock after acquiring an additional 253 shares during the period. Heritage Investors Management Corp’s holdings in ServiceNow were worth $27,094,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of ServiceNow by 4.1% during the second quarter. Amalgamated Bank now owns 47,112 shares of the information technology services provider’s stock worth $48,435,000 after acquiring an additional 1,850 shares during the period. Field & Main Bank boosted its holdings in shares of ServiceNow by 0.6% during the second quarter. Field & Main Bank now owns 2,062 shares of the information technology services provider’s stock worth $2,120,000 after acquiring an additional 13 shares during the period. Atria Investments Inc boosted its holdings in shares of ServiceNow by 5.7% during the second quarter. Atria Investments Inc now owns 23,113 shares of the information technology services provider’s stock worth $23,762,000 after acquiring an additional 1,250 shares during the period. Spinnaker Trust bought a new stake in shares of ServiceNow during the second quarter worth approximately $218,000. Finally, Savvy Advisors Inc. boosted its holdings in shares of ServiceNow by 17.3% during the second quarter. Savvy Advisors Inc. now owns 1,080 shares of the information technology services provider’s stock worth $1,110,000 after acquiring an additional 159 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.8%

Shares of NOW opened at $911.75 on Thursday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market cap of $189.64 billion, a P/E ratio of 114.83, a P/E/G ratio of 4.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $920.43 and a two-hundred day simple moving average of $946.08.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.61. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.72 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider owned 3,027 shares of the company’s stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,980 shares of company stock valued at $16,049,017. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. Piper Sandler boosted their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Cowen reissued a “buy” rating on shares of ServiceNow in a research report on Friday, October 24th. Oppenheimer reissued an “outperform” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Raymond James Financial increased their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,131.07.

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.