Capital Advisors Inc. OK Grows Position in ServiceNow, Inc. $NOW

Capital Advisors Inc. OK increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 42.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 761 shares of the information technology services provider’s stock after acquiring an additional 228 shares during the quarter. Capital Advisors Inc. OK’s holdings in ServiceNow were worth $783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow in the second quarter worth about $30,000. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $26,000. WASHINGTON TRUST Co grew its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares in the last quarter. Finally, Dagco Inc. bought a new stake in ServiceNow in the first quarter worth $33,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.1%

NOW opened at $913.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50 day moving average price is $913.22 and its 200-day moving average price is $931.27. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a market cap of $189.96 billion, a price-to-earnings ratio of 115.02, a P/E/G ratio of 4.11 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. BMO Capital Markets increased their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. DA Davidson lifted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Piper Sandler upped their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director directly owned 9,307 shares in the company, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

About ServiceNow

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.