Legacy Financial Advisors Inc. Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Legacy Financial Advisors Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 5.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 824 shares of the information technology services provider’s stock after buying an additional 45 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in ServiceNow were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc grew its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the 4th quarter valued at $29,000. EntryPoint Capital LLC lifted 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 acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter worth $32,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s 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 transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 2.0 %

Shares of NYSE:NOW opened at $937.36 on Friday. The stock has a market capitalization of $192.16 billion, a P/E ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The stock’s 50-day moving average price is $822.56 and its 200-day moving average price is $771.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $940.12.

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, topping analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOW. JPMorgan Chase & Co. increased their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Piper Sandler boosted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. JMP Securities upped their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

About ServiceNow

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.