Nemes Rush Group LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Nemes Rush Group LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 65.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277 shares of the information technology services provider’s stock after buying an additional 110 shares during the quarter. Nemes Rush Group LLC’s holdings in ServiceNow were worth $218,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $29,000. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow in the second quarter worth about $32,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. KeyCorp lowered their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. BMO Capital Markets lifted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, JMP Securities increased their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Down 0.3 %

ServiceNow stock opened at $881.79 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $180.77 billion, a P/E ratio of 94.31, a P/E/G ratio of 5.55 and a beta of 0.98. The business has a fifty day moving average of $837.59 and a two-hundred day moving average of $776.29. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $945.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred 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 owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. 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.