ServiceNow, Inc. (NYSE:NOW) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 38.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,774 shares of the information technology services provider’s stock after purchasing an additional 1,882 shares during the period. AE Wealth Management LLC’s holdings in ServiceNow were worth $5,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the fourth quarter valued at approximately $29,000. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% in 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 during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Up 2.0 %

ServiceNow stock opened at $937.36 on Friday. The stock’s 50 day moving average price is $822.56 and its 200 day moving average price is $771.44. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year 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 debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The company 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%. The business’s 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, sell-side analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on NOW shares. Citigroup increased their target price on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets boosted their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.