Index Fund Advisors Inc. Purchases 569 Shares of ServiceNow, Inc. $NOW

Index Fund Advisors Inc. raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 147.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 954 shares of the information technology services provider’s stock after acquiring an additional 569 shares during the period. Index Fund Advisors Inc.’s holdings in ServiceNow were worth $981,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Yarger Wealth Strategies LLC bought a new stake in shares of ServiceNow during the second quarter worth approximately $245,000. Sharp Financial Services LLC boosted its holdings in shares of ServiceNow by 22.9% during the second quarter. Sharp Financial Services LLC now owns 387 shares of the information technology services provider’s stock worth $398,000 after acquiring an additional 72 shares during the period. LRI Investments LLC boosted its holdings in shares of ServiceNow by 17.1% during the second quarter. LRI Investments LLC now owns 1,172 shares of the information technology services provider’s stock worth $1,205,000 after acquiring an additional 171 shares during the period. Commonwealth Financial Services LLC bought a new stake in shares of ServiceNow during the second quarter worth approximately $285,000. Finally, Valley Brook Capital Group Inc. boosted its holdings in shares of ServiceNow by 6.0% during the second quarter. Valley Brook Capital Group Inc. now owns 621 shares of the information technology services provider’s stock worth $638,000 after acquiring an additional 35 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Bank of America lifted their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Finally, Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 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 assigned a Sell rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the sale, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Down 3.2%

Shares of NOW opened at $888.63 on Monday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market cap of $184.84 billion, a P/E ratio of 111.92, a P/E/G ratio of 4.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $909.21 and a two-hundred day simple moving average of $932.99.

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

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.