New Wave Wealth Advisors LLC Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

New Wave Wealth Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent filing with the SEC. The fund acquired 827 shares of the information technology services provider’s stock, valued at approximately $651,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in shares of ServiceNow in the first quarter valued at $897,908,000. Global Assets Advisory LLC bought a new position in ServiceNow in the 1st quarter worth about $403,034,000. Vanguard Group Inc. grew its holdings in ServiceNow by 1.8% during the 1st 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 buying an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of ServiceNow during the second quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of ServiceNow by 18.3% in the fourth 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. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, 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 sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. 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 research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen lifted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Up 1.4 %

NYSE NOW opened at $894.40 on Tuesday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $945.46. The stock has a market capitalization of $183.35 billion, a PE ratio of 95.66, a PEG ratio of 5.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day moving average is $840.35 and its 200 day moving average is $777.10.

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. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. 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 previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share 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.