Oarsman Capital Inc. Acquires 127 Shares of ServiceNow, Inc. $NOW

by · The Cerbat Gem

Oarsman Capital Inc. grew its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 29.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 553 shares of the information technology services provider’s stock after buying an additional 127 shares during the period. Oarsman Capital Inc.’s holdings in ServiceNow were worth $569,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NOW. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co boosted its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $30,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,980 shares of company stock worth $16,049,017 in the last ninety days. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

NOW opened at $911.75 on Thursday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $189.64 billion, a PE ratio of 114.83, a P/E/G ratio of 4.23 and a beta of 0.92. The firm has a 50 day moving average of $920.43 and a two-hundred day moving average of $946.08.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOW. Piper Sandler raised their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Bank of America increased their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Citigroup increased their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.17.

Check Out Our Latest Stock Report on ServiceNow

About ServiceNow

(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.

See Also

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