Pathway Financial Advisors LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313 shares of the information technology services provider’s stock after acquiring an additional 44 shares during the quarter. Pathway Financial Advisors LLC’s holdings in ServiceNow were worth $280,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&G Plc purchased a new stake in shares of ServiceNow during the 1st quarter worth about $11,030,000. AXA S.A. boosted its stake in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares in the last quarter. HWG Holdings LP purchased a new position in ServiceNow in the 2nd quarter valued at about $2,679,000. New Mexico Educational Retirement Board lifted its stake in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $922.10 on Wednesday. The stock has a market cap of $189.03 billion, a P/E ratio of 98.62, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99. The company has a fifty day simple moving average of $850.57 and a 200-day simple moving average of $781.79. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. 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 (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business 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 company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. Equities analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NOW shares. UBS Group raised their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research note on Tuesday, July 23rd. KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company raised their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $866.24.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction 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 transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on 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 owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. 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.