SGL Investment Advisors Inc. Grows Position in ServiceNow, Inc. $NOW

SGL Investment Advisors Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 329 shares of the information technology services provider’s stock after purchasing an additional 61 shares during the quarter. SGL Investment Advisors Inc.’s holdings in ServiceNow were worth $337,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Bogart Wealth LLC grew its stake in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter valued at $26,000. WASHINGTON TRUST Co boosted its position in ServiceNow by 620.0% during 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 during the period. Global X Japan Co. Ltd. acquired a new stake in ServiceNow in the 2nd quarter valued at $30,000. Finally, Dagco Inc. purchased a new position in ServiceNow in the first quarter valued at about $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 0.1%

Shares of NYSE:NOW opened at $913.27 on Tuesday. The firm has a market cap of $189.96 billion, a PE ratio of 115.02, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92. The company has a fifty day simple moving average of $913.22 and a 200 day simple moving average of $931.27. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

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

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value 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 $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. BMO Capital Markets upped their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

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.