Premier Path Wealth Partners LLC Buys 136 Shares of ServiceNow, Inc. (NYSE:NOW)

Premier Path Wealth Partners LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,204 shares of the information technology services provider’s stock after purchasing an additional 136 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in ServiceNow were worth $2,520,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. M&G Plc bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $11,030,000. Smithfield Trust Co raised 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 valued at $691,000 after acquiring an additional 262 shares during the period. Dohj LLC bought a new stake in ServiceNow during the 4th quarter valued at $913,000. New Mexico Educational Retirement Board raised its holdings in ServiceNow by 9.4% during 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 acquiring an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in ServiceNow by 375.6% during 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 acquiring an additional 1,078 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the transaction, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated 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 transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders sold a total of 9,072 shares of company stock worth $6,930,684 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOW shares. Guggenheim reissued a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday, July 25th. Wells Fargo & Company boosted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Piper Sandler boosted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus upped their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Trading Up 0.9 %

NYSE NOW traded up $7.34 during trading on Friday, hitting $828.27. 664,484 shares of the company’s stock traded hands, compared to its average volume of 1,303,029. The stock has a fifty day moving average of $782.00 and a two-hundred day moving average of $759.29. 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, Inc. has a 12-month low of $527.24 and a 12-month high of $850.33. The firm has a market cap of $169.80 billion, a P/E ratio of 88.59, a PEG ratio of 4.82 and a beta of 0.99.

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