E&G Advisors LP Takes $217,000 Position in ServiceNow, Inc. (NYSE:NOW)

E&G Advisors LP bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, HoldingsChannel.com reports. The fund bought 285 shares of the information technology services provider’s stock, valued at approximately $217,000.

Several other institutional investors have also recently made changes to their positions in the company. Argonautica Private Wealth Management Inc. increased its holdings in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares in the last quarter. Wealth Management Partners LLC increased its holdings in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares in the last quarter. Optas LLC increased its holdings in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont increased its holdings in ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday, June 18th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Wolfe Research reaffirmed an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $813.28.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 1.0 %

NOW stock opened at $786.28 on Thursday. The firm has a market capitalization of $161.19 billion, a price-to-earnings ratio of 84.09, a PEG ratio of 4.98 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day moving average price is $728.95 and its 200 day moving average price is $742.68.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 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 net margin of 20.34% and a return on equity of 13.59%. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

ServiceNow 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.