Edge Financial Advisors LLC Purchases New Holdings in ServiceNow, Inc. (NYSE:NOW)

Edge Financial Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 326 shares of the information technology services provider’s stock, valued at approximately $249,000.

Other large investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the fourth quarter valued at approximately $29,000. AdvisorNet Financial Inc lifted its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. Sachetta LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $41,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Citigroup lifted their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wolfe Research reissued an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a report on Friday, May 10th. Finally, Morgan Stanley lifted their price target on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $813.28.

ServiceNow Price Performance

Shares of NOW traded up $7.26 during midday trading on Friday, hitting $793.18. The company’s stock had a trading volume of 250,376 shares, compared to its average volume of 1,266,983. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32. The company’s fifty day simple moving average is $731.14 and its two-hundred day simple moving average is $743.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $162.60 billion, a price-to-earnings ratio of 84.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. As a group, equities analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 in the last 90 days. Insiders own 0.25% of the company’s stock.

About ServiceNow

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.