Pure Financial Advisors LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Pure Financial Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 72.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 910 shares of the information technology services provider’s stock after purchasing an additional 381 shares during the quarter. Pure Financial Advisors LLC’s holdings in ServiceNow were worth $716,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOW. Argonautica Private Wealth Management Inc. boosted its position in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after acquiring an additional 13 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its position in shares of ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares during the last quarter. Optas LLC boosted its position in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 14 shares during the period. Finally, Forbes J M & Co. LLP raised its holdings in ServiceNow by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock valued at $4,035,000 after buying an additional 15 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock traded down $4.55 during trading hours on Friday, hitting $827.56. The stock had a trading volume of 835,507 shares, compared to its average volume of 1,322,462. The firm has a market capitalization of $169.65 billion, a PE ratio of 88.51, a PEG ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33. The stock’s 50 day moving average is $770.45 and its 200 day moving average is $757.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOW. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders sold 10,178 shares of company stock worth $7,760,105 over the last 90 days. 0.25% of the stock is currently owned by insiders.

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.