ServiceNow, Inc. (NYSE:NOW) Stake Boosted by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 533 shares of the information technology services provider’s stock after buying an additional 98 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in ServiceNow were worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during 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. purchased a new stake in ServiceNow in the 4th quarter worth about $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 acquiring an additional 39 shares during the period. Finally, Disciplined Equity Management Inc. purchased a new position in ServiceNow during the 4th quarter valued at about $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $741.92, for a total value of $443,668.16. Following the sale, the director now owns 428 shares of the company’s stock, valued at approximately $317,541.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the transaction, the director now owns 428 shares of the company’s stock, valued at approximately $317,541.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,670 shares of company stock worth $7,374,352. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. KeyCorp dropped 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. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Thursday, July 25th. BMO Capital Markets boosted their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, JMP Securities boosted their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $849.62.

ServiceNow Trading Up 0.1 %

NYSE:NOW traded up $0.55 on Wednesday, hitting $838.77. 609,542 shares of the stock were exchanged, compared to its average volume of 1,310,466. The stock has a market capitalization of $171.95 billion, a price-to-earnings ratio of 89.50, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $850.33. The company’s 50-day moving average price is $775.44 and its 200 day moving average price is $757.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for 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 business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

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.