Souders Financial Advisors Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Souders Financial Advisors acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel.com reports. The firm acquired 255 shares of the information technology services provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of ServiceNow by 3,900.0% in the 1st 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 during the period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter valued at approximately $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 3.0 %

Shares of NOW stock opened at $867.34 on Wednesday. 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 company has a market cap of $177.80 billion, a price-to-earnings ratio of 92.76, a PEG ratio of 5.55 and a beta of 0.98. The stock has a 50 day simple moving average of $842.39 and a 200-day simple moving average of $777.97. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $945.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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 company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOW. Piper Sandler increased their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets increased their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen boosted their price target on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow 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 sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last three months, insiders sold 6,914 shares of company stock worth $5,608,936. Corporate 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.