Pathway Financial Advisers LLC Has $499,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisers LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639 shares of the information technology services provider’s stock after buying an additional 41 shares during the period. Pathway Financial Advisers LLC’s holdings in ServiceNow were worth $499,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc increased its stake in shares of ServiceNow by 466.7% in the second 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 during the period. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the 4th quarter valued at approximately $29,000. EntryPoint Capital LLC boosted its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.4 %

NOW opened at $894.40 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $945.46. The firm has a market capitalization of $183.35 billion, a PE ratio of 95.66, a P/E/G ratio of 5.55 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. The company’s 50-day moving average is $840.35 and its 200 day moving average is $777.10.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 187 shares of the firm’s 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 transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction 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 sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. JMP Securities raised their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler increased their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” 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 decreased their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $855.44.

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.