Marcum Wealth LLC Acquires 17 Shares of ServiceNow, Inc. (NYSE:NOW)

Marcum Wealth LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 632 shares of the information technology services provider’s stock after buying an additional 17 shares during the quarter. Marcum Wealth LLC’s holdings in ServiceNow were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NOW. Federated Hermes Inc. increased its stake in ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the period. M&G Plc acquired a new stake in shares of ServiceNow during the 1st quarter valued at $11,030,000. Smithfield Trust Co lifted its holdings in ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after buying an additional 262 shares during the period. Dohj LLC acquired a new position in ServiceNow during the 4th quarter worth about $913,000. Finally, New Mexico Educational Retirement Board raised its position in shares of 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 worth $8,882,000 after acquiring an additional 1,000 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick 3,391 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. In the last 90 days, insiders sold 7,330 shares of company stock valued at $5,482,012. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NOW shares. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Thursday, July 25th. Robert W. Baird increased their target price on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $842.22.

ServiceNow Trading Down 1.1 %

Shares of ServiceNow stock traded down $8.59 during trading hours on Monday, reaching $782.05. The stock had a trading volume of 2,019,221 shares, compared to its average volume of 1,341,963. The firm has a 50 day simple moving average of $747.96 and a two-hundred day simple moving average of $754.19. The firm has a market capitalization of $161.10 billion, a price-to-earnings ratio of 83.64, a P/E/G ratio of 4.82 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 1 year low of $527.24 and a 1 year high of $850.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

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.