Alpha Cubed Investments LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Alpha Cubed Investments LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375 shares of the information technology services provider’s stock after acquiring an additional 46 shares during the period. Alpha Cubed Investments LLC’s holdings in ServiceNow were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its position 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 acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the fourth quarter valued at $29,000. EntryPoint Capital LLC increased 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 purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 187 shares of the firm’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 owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction 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 sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $922.10 on Wednesday. The firm has a 50-day moving average of $850.57 and a two-hundred day moving average of $781.79. The company has a market capitalization of $189.03 billion, a price-to-earnings ratio of 98.62, a PEG ratio of 5.55 and a beta of 0.99. 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 twelve month low of $527.24 and a twelve month high of $945.46.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group increased their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $866.24.

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.