ProShare Advisors LLC Buys 2,517 Shares of ServiceNow, Inc. (NYSE:NOW)

ProShare Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,115 shares of the information technology services provider’s stock after purchasing an additional 2,517 shares during the quarter. ProShare Advisors LLC’s holdings in ServiceNow were worth $30,771,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter worth approximately $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. EntryPoint Capital LLC boosted its holdings in shares of ServiceNow by 3,900.0% in the 1st 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 in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the 4th quarter valued at $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW stock opened at $937.36 on Monday. The stock has a market capitalization of $192.16 billion, a PE ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. The business’s 50 day simple moving average is $822.56 and its 200 day simple moving average is $771.66. 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, Inc. has a one year low of $527.24 and a one year high of $940.12.

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

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Robert W. Baird lifted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. The disclosure for this sale can be found here. In the last ninety days, insiders 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.