Jupiter Wealth Management LLC Increases Stock Position in ServiceNow Inc (NYSE:NOW)

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Jupiter Wealth Management LLC grew its stake in shares of ServiceNow Inc (NYSE:NOW) by 65.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,650 shares of the information technology services provider’s stock after buying an additional 650 shares during the period. Jupiter Wealth Management LLC’s holdings in ServiceNow were worth $489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Financial Gravity Wealth Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Sandy Spring Bank grew its stake in shares of ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 59 shares during the period. Knuff & Co LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $37,000. FTB Advisors Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at $45,000. Finally, Security National Trust Co. purchased a new stake in ServiceNow during the 1st quarter worth $49,000. 93.66% of the stock is owned by institutional investors.

NOW has been the subject of a number of research reports. Robert W. Baird upped their price target on shares of ServiceNow from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Northland Securities reaffirmed a “buy” rating and set a $280.00 price target on shares of ServiceNow in a research report on Thursday, May 2nd. Argus upped their price target on shares of ServiceNow from $260.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their price target on shares of ServiceNow from $250.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Co upped their price target on shares of ServiceNow from $200.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $287.86.

In related news, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $277.57, for a total transaction of $6,106,540.00. Following the sale, the director now owns 1,770 shares in the company, valued at $491,298.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 31,183 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the sale, the chief financial officer now owns 36,200 shares in the company, valued at approximately $9,419,964. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,321 shares of company stock worth $33,860,508. 1.00% of the stock is owned by company insiders.

Shares of ServiceNow stock traded up $4.62 during trading on Friday, reaching $256.91. The company had a trading volume of 1,505,000 shares, compared to its average volume of 2,059,894. The company has a market cap of $47.30 billion, a price-to-earnings ratio of 1,284.55, a price-to-earnings-growth ratio of 21.00 and a beta of 1.30. The firm’s fifty day moving average is $281.92 and its 200-day moving average is $259.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. On average, research analysts anticipate that ServiceNow Inc will post 0.43 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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