ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Pathway Financial Advisors LLC

Pathway Financial Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.4% during the third quarter, HoldingsChannel reports. The fund owned 313 shares of the information technology services provider’s stock after acquiring an additional 44 shares during the quarter. Pathway Financial Advisors LLC’s holdings in ServiceNow were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc increased its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% during the first 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. acquired a new position in shares of ServiceNow during the fourth quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE:NOW opened at $922.10 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $189.03 billion, a P/E ratio of 98.62, a P/E/G ratio of 5.55 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $945.46. The firm’s 50 day moving average is $850.57 and its two-hundred day moving average is $781.79.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NOW shares. BMO Capital Markets upped their target price on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. Canaccord Genuity Group restated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. KeyCorp lowered their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, TD Cowen upped their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $866.24.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value 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 $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.