Resources Management Corp CT ADV Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Resources Management Corp CT ADV increased its position in ServiceNow, Inc. (NYSE:NOW) by 136.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,266 shares of the information technology services provider’s stock after buying an additional 731 shares during the period. Resources Management Corp CT ADV’s holdings in ServiceNow were worth $996,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NOW. Trexquant Investment LP purchased a new stake in shares of ServiceNow in the fourth quarter worth about $1,081,000. Quest Partners LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $167,000. Johnson Financial Group Inc. lifted its position in shares of ServiceNow by 35.0% in the fourth quarter. Johnson Financial Group Inc. now owns 274 shares of the information technology services provider’s stock worth $194,000 after buying an additional 71 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of ServiceNow by 47.5% in the fourth quarter. Intech Investment Management LLC now owns 1,161 shares of the information technology services provider’s stock worth $820,000 after buying an additional 374 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its position in shares of ServiceNow by 360.0% in the fourth quarter. Evermay Wealth Management LLC now owns 575 shares of the information technology services provider’s stock worth $406,000 after buying an additional 450 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup raised their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. BMO Capital Markets raised 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. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Finally, KeyCorp lowered their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

Insiders Place Their Bets

In other ServiceNow 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 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 approximately $9,479,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow 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 transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The shares were 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 of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NOW opened at $925.55 on Tuesday. The stock has a 50-day moving average of $825.72 and a two-hundred day moving average of $772.77. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $945.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $189.74 billion, a P/E ratio of 98.99, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current 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.