PFW Advisors LLC Invests $202,000 in ServiceNow, Inc. $NOW

PFW Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 196 shares of the information technology services provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. Bogart Wealth LLC increased its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the 1st quarter worth $26,000. WASHINGTON TRUST Co increased its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Dagco Inc. purchased a new stake in shares of ServiceNow in the 1st quarter worth $33,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOW. Jefferies Financial Group increased their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Morgan Stanley reiterated an “equal weight” rating on shares of ServiceNow in a research note on Tuesday, July 8th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Finally, UBS Group cut their price target on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,115.20.

ServiceNow Trading Down 1.6%

NOW opened at $932.28 on Wednesday. The firm has a market cap of $193.91 billion, a P/E ratio of 117.42, a P/E/G ratio of 4.27 and a beta of 0.91. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $923.80 and a 200 day moving average of $922.54.

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