CHB Investment Group LLC Acquires Shares of 3,576 ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

CHB Investment Group LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,576 shares of the information technology services provider’s stock, valued at approximately $3,198,000. ServiceNow accounts for about 1.7% of CHB Investment Group LLC’s holdings, making the stock its 10th largest holding.

Several other large investors have also modified their holdings of the company. M&G Plc bought a new stake in ServiceNow in the 1st quarter valued at $11,030,000. AXA S.A. lifted its holdings in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the period. HWG Holdings LP bought a new position in shares of ServiceNow during the 2nd quarter worth about $2,679,000. New Mexico Educational Retirement Board increased its position in shares of ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares in the company, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,267 shares of company stock worth $5,935,447. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Citigroup lifted their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $914.15.

Check Out Our Latest Analysis on NOW

ServiceNow Price Performance

Shares of NOW opened at $919.36 on Friday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59. The business’s fifty day moving average is $872.40 and its 200 day moving average is $790.68. 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 stock has a market cap of $188.47 billion, a P/E ratio of 98.09, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business earned $0.77 EPS. The business’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

ServiceNow Profile

(Free Report)

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.

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