Capital Advisors Inc. OK Purchases 228 Shares of ServiceNow, Inc. $NOW

Capital Advisors Inc. OK lifted its position in ServiceNow, Inc. (NYSE:NOW) by 42.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 761 shares of the information technology services provider’s stock after buying an additional 228 shares during the period. Capital Advisors Inc. OK’s holdings in ServiceNow were worth $783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after buying an additional 188,292 shares in the last quarter. Nuveen LLC purchased a new stake in ServiceNow during the first quarter worth $1,817,535,000. Alliancebernstein L.P. lifted its holdings in ServiceNow by 16.2% during the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after buying an additional 242,132 shares during the period. Finally, Amundi boosted its position in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 0.1%

Shares of ServiceNow stock opened at $913.27 on Tuesday. The firm’s 50 day simple moving average is $913.22 and its two-hundred day simple moving average is $931.27. The firm has a market capitalization of $189.96 billion, a price-to-earnings ratio of 115.02, a PEG ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $3.13 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Guggenheim restated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, Raymond James Financial lifted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

About ServiceNow

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.