Toth Financial Advisory Corp Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Toth Financial Advisory Corp decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,179 shares of the information technology services provider’s stock after selling 16 shares during the quarter. Toth Financial Advisory Corp’s holdings in ServiceNow were worth $899,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter worth about $29,000. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow during the fourth quarter worth about $35,000. Sachetta LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $35,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. In the last three months, insiders sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Tuesday, June 18th. BMO Capital Markets reduced their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Finally, Robert W. Baird raised their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

ServiceNow Trading Up 1.6 %

Shares of NOW opened at $786.67 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $726.55 and a 200-day simple moving average of $741.06. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32. The stock has a market cap of $161.27 billion, a price-to-earnings ratio of 84.14, a price-to-earnings-growth ratio of 4.93 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Equities analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

ServiceNow 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.