Benjamin F. Edwards & Company Inc. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Benjamin F. Edwards & Company Inc. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,569 shares of the information technology services provider’s stock after purchasing an additional 1,893 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in ServiceNow were worth $7,528,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the 4th quarter worth $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the second quarter worth $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NOW shares. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial increased their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, JMP Securities increased their target price on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Stock Up 2.0 %

NOW stock opened at $937.36 on Friday. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $940.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a fifty day moving average of $822.56 and a 200-day moving average of $771.23. The stock has a market capitalization of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for 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 revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, analysts expect that ServiceNow, Inc. will post 6.78 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.