Left Brain Wealth Management LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Left Brain Wealth Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,660 shares of the information technology services provider’s stock after purchasing an additional 67 shares during the period. ServiceNow comprises approximately 1.9% of Left Brain Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding. Left Brain Wealth Management LLC’s holdings in ServiceNow were worth $3,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its position in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter valued at about $35,000. Sachetta LLC bought a new position in ServiceNow in the fourth quarter valued at about $35,000. Fortitude Family Office LLC bought a new position in ServiceNow in the fourth quarter valued at about $41,000. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW stock traded up $4.04 during midday trading on Tuesday, hitting $713.19. 510,500 shares of the company were exchanged, compared to its average volume of 1,286,394. The firm has a market capitalization of $146.20 billion, a P/E ratio of 76.62, a PEG ratio of 4.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $731.41 and its two-hundred day moving average price is $736.30. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $815.32.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. UBS Group decreased their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wolfe Research reissued an “outperform” rating and issued a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. Wells Fargo & Company boosted their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird boosted their price target on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Read Our Latest Research Report on NOW

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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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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