Harfst & Associates Inc. Acquires 512 Shares of ServiceNow, Inc. (NYSE:NOW)

Harfst & Associates Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,642 shares of the information technology services provider’s stock after acquiring an additional 512 shares during the quarter. Harfst & Associates Inc.’s holdings in ServiceNow were worth $2,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc grew its position in shares of 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 position in shares of 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 buying an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter valued at $32,000. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock traded up $4.63 during midday trading on Friday, hitting $921.75. 1,422,660 shares of the stock traded hands, compared to its average volume of 1,272,323. The stock’s fifty day simple moving average is $874.61 and its 200-day simple moving average is $791.74. The firm has a market cap of $188.96 billion, a P/E ratio of 98.59, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $949.59. 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 results 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 firm 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 for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. On average, analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock worth $5,935,447 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on NOW shares. Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Oppenheimer upped their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen lifted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Barclays boosted their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $914.15.

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.