Resonant Capital Advisors LLC Has $768,000 Holdings in ServiceNow, Inc. $NOW

Resonant Capital Advisors LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 28.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 747 shares of the information technology services provider’s stock after buying an additional 166 shares during the quarter. Resonant Capital Advisors LLC’s holdings in ServiceNow were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Global X Japan Co. Ltd. bought a new position in ServiceNow during the second quarter valued at approximately $30,000. LGT Financial Advisors LLC acquired a new position in shares of ServiceNow during the 2nd quarter valued at about $32,000. Bogart Wealth LLC boosted its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the 1st quarter worth $26,000. Finally, Richardson Financial Services Inc. lifted its position in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.0%

Shares of NOW opened at $929.77 on Monday. The business’s 50 day simple moving average is $917.85 and its 200-day simple moving average is $943.26. 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 company has a market capitalization of $193.39 billion, a P/E ratio of 117.10, a PEG ratio of 4.20 and a beta of 0.92. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NOW shares. BMO Capital Markets boosted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price objective on ServiceNow in a report on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

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.