USA Financial Formulas Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

USA Financial Formulas increased its position in ServiceNow, Inc. (NYSE:NOW) by 3,250.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268 shares of the information technology services provider’s stock after buying an additional 260 shares during the period. USA Financial Formulas’ holdings in ServiceNow were worth $240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morling Financial Advisors LLC raised its stake in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares in the last quarter. Optas LLC increased its stake in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares during the period. Cedar Wealth Management LLC raised its position in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of ServiceNow by 2.7% in the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 14 shares during the period. Finally, Ndwm LLC boosted its holdings in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on 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 owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,914 shares of company stock valued at $5,608,936. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOW. JPMorgan Chase & Co. upped their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $875.81.

ServiceNow Stock Up 0.7 %

NOW stock opened at $944.87 on Friday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $949.00. The company has a fifty day simple moving average of $855.54 and a 200 day simple moving average of $783.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $194.64 billion, a PE ratio of 170.86, a PEG ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Company 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.