RFG Advisory LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

RFG Advisory LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 25.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,981 shares of the information technology services provider’s stock after purchasing an additional 1,008 shares during the quarter. RFG Advisory LLC’s holdings in ServiceNow were worth $4,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new stake in shares of ServiceNow in the 4th quarter valued at $114,000. Park Avenue Securities LLC increased its holdings in ServiceNow by 0.4% during the 1st quarter. Park Avenue Securities LLC now owns 9,720 shares of the information technology services provider’s stock worth $7,410,000 after purchasing an additional 42 shares during the period. Aprio Wealth Management LLC purchased a new stake in ServiceNow during the 1st quarter worth about $259,000. BTC Capital Management Inc. purchased a new stake in ServiceNow during the 1st quarter worth about $643,000. Finally, Meyer Handelman Co. purchased a new stake in ServiceNow during the 1st quarter worth about $629,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI upped their price target on ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Oppenheimer upped their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, JMP Securities upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $914.15.

ServiceNow Stock Performance

Shares of NOW stock opened at $917.12 on Friday. The company has a market cap of $188.01 billion, a price-to-earnings ratio of 98.09, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The stock has a 50 day simple moving average of $872.40 and a 200-day simple moving average of $790.68. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast 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.