Resonant Capital Advisors LLC Buys 48 Shares of ServiceNow, Inc. (NYSE:NOW)

Resonant Capital Advisors LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468 shares of the information technology services provider’s stock after purchasing an additional 48 shares during the quarter. Resonant Capital Advisors LLC’s holdings in ServiceNow were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% during 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 period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the 4th quarter valued at about $29,000. EntryPoint Capital LLC grew its position in shares of 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 buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the 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 transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,129 shares of company stock worth $5,759,436. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NOW shares. Royal Bank of Canada lifted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company increased their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Stock Up 2.9 %

Shares of NOW stock opened at $855.00 on Tuesday. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $857.25. The stock has a market cap of $175.28 billion, a price-to-earnings ratio of 91.44, a PEG ratio of 5.13 and a beta of 0.99. The firm’s 50-day moving average is $794.11 and its 200-day moving average is $760.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

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