Yarger Wealth Strategies LLC Takes $245,000 Position in ServiceNow, Inc. $NOW

Yarger Wealth Strategies LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel reports. The firm purchased 238 shares of the information technology services provider’s stock, valued at approximately $245,000.

Several other large investors have also modified their holdings of the business. Sharp Financial Services LLC grew its position in shares of ServiceNow by 22.9% in the second quarter. Sharp Financial Services LLC now owns 387 shares of the information technology services provider’s stock valued at $398,000 after purchasing an additional 72 shares during the last quarter. LRI Investments LLC grew its position in shares of ServiceNow by 17.1% in the second quarter. LRI Investments LLC now owns 1,172 shares of the information technology services provider’s stock valued at $1,205,000 after purchasing an additional 171 shares during the last quarter. Commonwealth Financial Services LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $285,000. Valley Brook Capital Group Inc. grew its position in shares of ServiceNow by 6.0% in the second quarter. Valley Brook Capital Group Inc. now owns 621 shares of the information technology services provider’s stock valued at $638,000 after purchasing an additional 35 shares during the last quarter. Finally, CWM LLC grew its position in shares of ServiceNow by 28.1% in the second quarter. CWM LLC now owns 11,724 shares of the information technology services provider’s stock valued at $12,053,000 after purchasing an additional 2,569 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last 90 days. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $888.63 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $184.84 billion, a P/E ratio of 111.92, a P/E/G ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm’s 50 day moving average is $909.21 and its two-hundred day moving average is $932.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The company 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%. ServiceNow’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 earnings per share. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NOW shares. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Bank of America raised their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. BMO Capital Markets raised their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial raised their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

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.