Farther Finance Advisors LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Farther Finance Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,026 shares of the information technology services provider’s stock after acquiring an additional 556 shares during the period. Farther Finance Advisors LLC’s holdings in ServiceNow were worth $2,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc boosted 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 valued at $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the fourth quarter worth $29,000. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% in 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 in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow during the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOW. KeyCorp dropped their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $23.73 during midday trading on Friday, hitting $855.00. The company had a trading volume of 1,920,980 shares, compared to its average volume of 957,899. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $857.25. The company has a fifty day moving average of $791.80 and a two-hundred day moving average of $760.54. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 91.44, a PEG ratio of 5.13 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 issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Insiders have sold 7,129 shares of company stock valued at $5,759,436 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.