Wellington Wealth Strategies LLC. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Wellington Wealth Strategies LLC. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 275 shares of the information technology services provider’s stock, valued at approximately $216,000.

A number of other institutional investors have also modified their holdings of the company. FinTrust Capital Advisors LLC increased its stake in ServiceNow by 25.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 278 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 57 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $795,000. Jones Financial Companies Lllp increased its stake in ServiceNow by 2.3% during the 4th quarter. Jones Financial Companies Lllp now owns 18,024 shares of the information technology services provider’s stock worth $12,734,000 after buying an additional 408 shares during the period. Varenne Capital Partners acquired a new stake in ServiceNow during the 4th quarter worth approximately $1,720,000. Finally, CWA Asset Management Group LLC boosted its position in ServiceNow by 34.7% in the 4th quarter. CWA Asset Management Group LLC now owns 1,673 shares of the information technology services provider’s stock valued at $1,182,000 after buying an additional 431 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 187 shares of the company’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 sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.3 %

Shares of NYSE NOW opened at $881.79 on Monday. The business has a 50-day moving average price of $837.59 and a 200 day moving average price of $776.29. The stock has a market cap of $180.77 billion, a PE ratio of 94.31, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOW. Stifel Nicolaus upped their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JMP Securities upped their price target on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

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.