ServiceNow, Inc. (NYSE:NOW) is Axxcess Wealth Management LLC’s 2nd Largest Position

Axxcess Wealth Management LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,525 shares of the information technology services provider’s stock after buying an additional 74 shares during the period. ServiceNow makes up about 5.2% of Axxcess Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Axxcess Wealth Management LLC owned approximately 0.12% of ServiceNow worth $197,867,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the fourth quarter worth about $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $32,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’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 sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 over the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $892.63 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $182.99 billion, a PE ratio of 95.47, a PEG ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $897.99. The firm has a fifty day moving average of $809.74 and a 200 day moving average of $767.40.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen lifted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Citigroup raised their target price on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada boosted their price target on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $855.44.

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.