Wintrust Investments LLC Makes New $1.18 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Wintrust Investments LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,094 shares of the information technology services provider’s stock, valued at approximately $1,177,000.

Several other large investors also recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its stake in ServiceNow by 357.5% in the first quarter. WINTON GROUP Ltd now owns 5,673 shares of the information technology services provider’s stock valued at $2,636,000 after acquiring an additional 4,433 shares during the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of ServiceNow by 78.7% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 2,000 shares of the information technology services provider’s stock valued at $929,000 after purchasing an additional 881 shares during the period. NorthRock Partners LLC lifted its stake in ServiceNow by 7.9% in the 2nd quarter. NorthRock Partners LLC now owns 714 shares of the information technology services provider’s stock valued at $401,000 after purchasing an additional 52 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in ServiceNow by 7.8% during the second quarter. Catalyst Financial Partners LLC now owns 926 shares of the information technology services provider’s stock worth $520,000 after purchasing an additional 67 shares during the period. Finally, Alliance Wealth Advisors LLC UT increased its position in ServiceNow by 5.1% during the first quarter. Alliance Wealth Advisors LLC UT now owns 7,087 shares of the information technology services provider’s stock worth $3,294,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 87.14% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $650.90 on Thursday. ServiceNow, Inc. has a 1 year low of $353.62 and a 1 year high of $659.94. The stock has a market capitalization of $133.43 billion, a price-to-earnings ratio of 84.31, a price-to-earnings-growth ratio of 5.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50 day simple moving average is $575.78 and its 200 day simple moving average is $554.87.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.32. ServiceNow had a return on equity of 12.25% and a net margin of 18.72%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. As a group, research analysts predict that ServiceNow, Inc. will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 91 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $535.10, for a total value of $48,694.10. Following the sale, the general counsel now directly owns 4,225 shares in the company, valued at approximately $2,260,797.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, insider Christopher Bedi sold 1,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $554.75, for a total value of $554,750.00. Following the completion of the transaction, the insider now owns 15,484 shares of the company’s stock, valued at approximately $8,589,749. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 91 shares of ServiceNow stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $535.10, for a total value of $48,694.10. Following the sale, the general counsel now directly owns 4,225 shares in the company, valued at $2,260,797.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,805 shares of company stock valued at $5,729,390. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on NOW. Moffett Nathanson raised their price objective on ServiceNow from $549.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Truist Financial reaffirmed a “hold” rating and set a $575.00 price target on shares of ServiceNow in a report on Tuesday, October 24th. BMO Capital Markets decreased their price objective on shares of ServiceNow from $630.00 to $615.00 and set an “outperform” rating on the stock in a report on Tuesday, October 24th. Wells Fargo & Company raised their target price on shares of ServiceNow from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada upped their price target on shares of ServiceNow from $665.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $614.77.

ServiceNow Profile

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.