Atomi Financial Group Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Atomi Financial Group Inc. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 742 shares of the information technology services provider’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RB Capital Management LLC grew its holdings in shares of ServiceNow by 25.2% in the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 192 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in ServiceNow by 17.9% in the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after purchasing an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in ServiceNow by 9.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after buying an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of ServiceNow by 0.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares in the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Christopher Bedi sold 1,000 shares of ServiceNow stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $560.85, for a total transaction of $560,850.00. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at $7,919,762.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Christopher Bedi sold 1,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $560.85, for a total transaction of $560,850.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at approximately $7,919,762.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,223 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $546.99, for a total transaction of $668,968.77. Following the completion of the transaction, the general counsel now owns 4,136 shares in the company, valued at $2,262,350.64. The disclosure for this sale can be found here. Insiders sold 17,951 shares of company stock valued at $10,147,437 in the last quarter. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler lifted their price target on ServiceNow from $525.00 to $600.00 in a research report on Friday, June 9th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $525.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Morgan Stanley lifted their price target on ServiceNow from $586.00 to $630.00 in a research note on Thursday, July 27th. Evercore ISI boosted their price objective on shares of ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Finally, TheStreet raised shares of ServiceNow from a “c+” rating to a “b” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $591.38.

ServiceNow Stock Up 0.4 %

NYSE NOW opened at $591.38 on Thursday. The company has a market capitalization of $120.49 billion, a P/E ratio of 85.21, a PEG ratio of 6.04 and a beta of 1.01. ServiceNow, Inc. has a 12 month low of $337.00 and a 12 month high of $614.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50 day simple moving average is $572.31 and its 200 day simple moving average is $515.49.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.43 by $0.34. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. Equities research analysts expect that ServiceNow, Inc. will post 3.59 earnings per share for the current fiscal year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.