Motiv8 Investments LLC Acquires 84 Shares of ServiceNow, Inc. (NYSE:NOW)

Motiv8 Investments LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 10.2% during the second quarter, HoldingsChannel.com reports. The firm owned 907 shares of the information technology services provider’s stock after purchasing an additional 84 shares during the period. Motiv8 Investments LLC’s holdings in ServiceNow were worth $714,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $29,000. EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the second quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW traded down $10.36 during mid-day trading on Friday, reaching $825.04. The company’s stock had a trading volume of 1,070,842 shares, compared to its average volume of 1,286,472. The firm has a market capitalization of $169.13 billion, a PE ratio of 88.28, a P/E/G ratio of 5.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a fifty day moving average of $799.33 and a two-hundred day moving average of $762.78. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $863.85.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company increased their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Company Profile

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.