Strategic Advocates LLC Grows Position in ServiceNow, Inc. (NYSE:NOW)

Strategic Advocates LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 216.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,393 shares of the information technology services provider’s stock after buying an additional 2,322 shares during the period. ServiceNow accounts for 1.1% of Strategic Advocates LLC’s investment portfolio, making the stock its 17th biggest position. Strategic Advocates LLC’s holdings in ServiceNow were worth $3,035,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the second quarter worth about $32,000. Finally, TFC Financial Management Inc. lifted its stake in shares of ServiceNow by 466.7% during the first quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.1 %

Shares of NYSE NOW traded up $9.84 during mid-day trading on Friday, reaching $926.96. The company had a trading volume of 241,354 shares, compared to its average volume of 1,266,478. The stock’s 50 day moving average is $872.40 and its 200-day moving average is $790.68. 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 twelve month low of $527.24 and a twelve month high of $949.59. The stock has a market capitalization of $190.03 billion, a PE ratio of 98.09, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Truist Financial upped their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $914.15.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s 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 completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s 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 transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 over the last quarter. Insiders own 0.25% of the company’s stock.

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.