OneDigital Investment Advisors LLC Invests $9.99 Million in ServiceNow, Inc. $NOW

OneDigital Investment Advisors LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 100,628 shares of the information technology services provider’s stock, valued at approximately $9,990,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC grew its position in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. raised its stake in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 18 shares during the last quarter. American Trust lifted its holdings in shares of ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after buying an additional 18 shares during the period. Morse Asset Management Inc lifted its holdings in shares of ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after buying an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its stake in shares of ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after buying an additional 20 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Argus cut their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $143.76.

ServiceNow Price Performance

NYSE NOW opened at $124.08 on Monday. The company has a market capitalization of $128.29 billion, a PE ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The business’s fifty day moving average is $107.08 and its 200 day moving average is $105.59. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.