Angeles Wealth Management LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Angeles Wealth Management LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 17.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,465 shares of the information technology services provider’s stock after acquiring an additional 217 shares during the period. Angeles Wealth Management LLC’s holdings in ServiceNow were worth $1,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Sanford C. Bernstein increased their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Mizuho upped their price objective on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Oppenheimer upped their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $970.33.

Get Our Latest Stock Report on NOW

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,530 shares of company stock valued at $2,939,955. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.1 %

Shares of NYSE:NOW traded up $10.42 during trading on Friday, reaching $943.41. The company’s stock had a trading volume of 985,688 shares, compared to its average volume of 1,292,707. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $592.48 and a 12 month high of $979.78. The firm’s 50 day simple moving average is $896.89 and its two-hundred day simple moving average is $804.01. The stock has a market capitalization of $194.34 billion, a PE ratio of 146.72, a price-to-earnings-growth ratio of 5.35 and a beta of 0.98.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm earned $1.21 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

ServiceNow Company 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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