ServiceNow, Inc. (NYSE:NOW) Position Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 0.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,525 shares of the information technology services provider’s stock after purchasing an additional 74 shares during the quarter. ServiceNow comprises about 5.2% of Axxcess Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Axxcess Wealth Management LLC’s holdings in ServiceNow were worth $197,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Sepio Capital LP raised its position in ServiceNow by 7.8% in the fourth 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. Great Lakes Advisors LLC raised its holdings in ServiceNow by 7.0% in the 4th quarter. Great Lakes Advisors LLC now owns 954 shares of the information technology services provider’s stock valued at $674,000 after buying an additional 62 shares during the period. Financial Advocates Investment Management boosted its stake in ServiceNow by 3.8% during the fourth quarter. Financial Advocates Investment Management now owns 470 shares of the information technology services provider’s stock worth $332,000 after buying an additional 17 shares during the period. AMG National Trust Bank acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $240,000. Finally, Coldstream Capital Management Inc. increased its position in shares of ServiceNow by 27.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,221 shares of the information technology services provider’s stock valued at $2,276,000 after acquiring an additional 699 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.6 %

NYSE:NOW opened at $892.63 on Tuesday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $897.99. The stock has a market cap of $182.99 billion, a P/E ratio of 95.47, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day simple moving average of $809.74 and a 200-day simple moving average of $767.40.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm 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 firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NOW shares. Robert W. Baird increased their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial raised their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $825.00, for a total value of $82,500.00. Following 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. In the last quarter, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by 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.