Addison Advisors LLC Buys 36 Shares of ServiceNow, Inc. (NYSE:NOW)

Addison Advisors LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 29.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 159 shares of the information technology services provider’s stock after purchasing an additional 36 shares during the quarter. Addison Advisors LLC’s holdings in ServiceNow were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Sepio Capital LP raised its stake in shares of ServiceNow by 7.8% during the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after purchasing an additional 85 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of ServiceNow during the 4th quarter valued at $203,000. Wealthspire Advisors LLC raised its stake in shares of ServiceNow by 80.0% during the 4th quarter. Wealthspire Advisors LLC now owns 1,627 shares of the information technology services provider’s stock valued at $1,149,000 after purchasing an additional 723 shares during the period. Montag A & Associates Inc. raised its stake in shares of ServiceNow by 67.9% during the 4th quarter. Montag A & Associates Inc. now owns 235 shares of the information technology services provider’s stock valued at $166,000 after purchasing an additional 95 shares during the period. Finally, Smithfield Trust Co grew its position in ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after buying an additional 262 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial boosted their target price on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wolfe Research restated an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a research report on Friday, May 10th. Finally, Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Trading Down 1.2 %

Shares of NOW stock opened at $825.39 on Friday. The stock has a market capitalization of $169.20 billion, a PE ratio of 88.28, a P/E/G ratio of 5.13 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $863.85. The business has a 50-day moving average of $799.33 and a 200 day moving average of $762.78. 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 released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share 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.