Goodman Advisory Group LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Goodman Advisory Group LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,201 shares of the information technology services provider’s stock, valued at approximately $3,305,000. ServiceNow comprises approximately 1.0% of Goodman Advisory Group LLC’s portfolio, making the stock its 27th largest holding.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the period. Fisher Asset Management LLC raised its position in shares of ServiceNow by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock worth $1,023,315,000 after acquiring an additional 101,485 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NOW stock opened at $881.95 on Friday. The firm has a 50-day simple moving average of $837.59 and a two-hundred day simple moving average of $776.38. 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, Inc. has a one year low of $527.24 and a one year high of $945.46. The firm has a market cap of $180.80 billion, a price-to-earnings ratio of 94.33, a PEG ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOW shares. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JMP Securities increased their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. One equities research 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. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on 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 $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were 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 directly owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

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.