Foundations Investment Advisors LLC Has $412,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Foundations Investment Advisors LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 21.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 523 shares of the information technology services provider’s stock after selling 140 shares during the period. Foundations Investment Advisors LLC’s holdings in ServiceNow were worth $412,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc boosted its position in shares of 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 acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow in the fourth quarter worth about $29,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated 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 sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $825.04 on Friday. The company has a market capitalization of $169.13 billion, a price-to-earnings ratio of 88.24, a P/E/G ratio of 5.13 and a beta of 0.98. The firm’s 50 day simple moving average is $799.33 and its 200 day simple moving average is $762.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $863.85.

ServiceNow (NYSE:NOW) last announced 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. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on NOW. 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets raised their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $849.62.

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.