Pathway Financial Advisers LLC Buys 41 Shares of ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisers LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% during the second quarter, HoldingsChannel.com reports. The firm owned 639 shares of the information technology services provider’s stock after purchasing an additional 41 shares during the quarter. Pathway Financial Advisers LLC’s holdings in ServiceNow were worth $499,000 as of its most recent filing with the SEC.

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

ServiceNow Stock Up 1.4 %

Shares of ServiceNow stock opened at $894.40 on Tuesday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. The company has a market cap of $183.35 billion, a P/E ratio of 95.66, a PEG ratio of 5.55 and a beta of 0.98. The company’s fifty day simple moving average is $840.35 and its two-hundred day simple moving average is $777.10. 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 earnings results 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 business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. TD Cowen increased their price objective on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on 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 owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by corporate 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.