ServiceNow, Inc. (NYSE:NOW) Stake Raised by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,371 shares of the information technology services provider’s stock after purchasing an additional 2,595 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in ServiceNow were worth $8,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc boosted its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its position 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 worth $30,000 after purchasing an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter valued at $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.0 %

Shares of NOW stock opened at $937.36 on Friday. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $940.12. The company has a market cap of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $822.56 and its two-hundred day moving average is $771.23.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. Equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on NOW. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research report on Tuesday, July 23rd. Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird increased their target price on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial lifted their price target on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. Company insiders own 0.25% of the company’s stock.

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.