Raymond James Financial Services Advisors Inc. Has $66.22 Million Position in ServiceNow, Inc. (NYSE:NOW)

Raymond James Financial Services Advisors Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,180 shares of the information technology services provider’s stock after purchasing an additional 4,624 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ServiceNow were worth $66,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOW. Creekmur Asset Management LLC bought a new position in shares of ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the 4th quarter valued at about $29,000. Finally, Sachetta LLC bought a new position in shares of ServiceNow in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $832.88 on Tuesday. The business has a fifty day moving average price of $772.92 and a two-hundred day moving average price of $757.59. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $850.33. The stock has a market capitalization of $170.74 billion, a PE ratio of 89.01, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last announced 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 analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’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. As a group, equities analysts predict that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total transaction of $82,500.00. Following the sale, the insider now owns 2,994 shares in the company, valued at $2,470,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total value of $82,500.00. Following the completion of the sale, the insider now owns 2,994 shares in the company, valued at approximately $2,470,050. The disclosure for this sale can be found here. Insiders have sold a total of 9,576 shares of company stock worth $7,296,716 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOW. Citigroup upped their price objective on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. KeyCorp dropped their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Wolfe Research reiterated an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $849.62.

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.