Nemes Rush Group LLC Increases Position in ServiceNow, Inc. (NYSE:NOW)

Nemes Rush Group LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 65.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 277 shares of the information technology services provider’s stock after acquiring an additional 110 shares during the quarter. Nemes Rush Group LLC’s holdings in ServiceNow were worth $218,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOW. Magnolia Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $19,310,000. Copperwynd Financial LLC lifted its position in ServiceNow by 31.3% during the second quarter. Copperwynd Financial LLC now owns 1,257 shares of the information technology services provider’s stock valued at $1,024,000 after purchasing an additional 300 shares during the period. Creative Planning grew its position in ServiceNow by 98.1% during the 2nd quarter. Creative Planning now owns 51,717 shares of the information technology services provider’s stock worth $40,685,000 after purchasing an additional 25,608 shares during the period. Aviso Wealth Management purchased a new position in shares of ServiceNow during the 2nd quarter valued at about $208,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of ServiceNow in the second quarter worth about $3,305,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the company’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 transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.3 %

NOW stock opened at $881.79 on Monday. The company has a market cap of $180.77 billion, a price-to-earnings ratio of 94.31, a PEG ratio of 5.55 and a beta of 0.98. The firm has a 50-day moving average of $837.59 and a two-hundred day moving average of $776.29. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $945.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Royal Bank of Canada lifted their price target on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. JMP Securities lifted their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

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.