285 Shares in ServiceNow, Inc. $NOW Purchased by Wealthstream Advisors Inc.

Wealthstream Advisors Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel reports. The firm bought 285 shares of the information technology services provider’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co increased its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in ServiceNow in the 2nd quarter valued at about $30,000. Finally, Dagco Inc. purchased a new stake in ServiceNow in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 1.1%

ServiceNow stock opened at $904.57 on Friday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market capitalization of $188.15 billion, a price-to-earnings ratio of 113.93, a P/E/G ratio of 4.07 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $910.30 and a 200 day simple moving average of $935.59.

ServiceNow (NYSE:NOW) last released 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 business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. ServiceNow’s revenue was up 22.4% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last three months. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, UBS Group reduced their target price on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,121.37.

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.