Sax Wealth Advisors LLC Increases Position in ServiceNow, Inc. (NYSE:NOW)

Sax Wealth Advisors LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 48.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 621 shares of the information technology services provider’s stock after purchasing an additional 202 shares during the period. Sax Wealth Advisors LLC’s holdings in ServiceNow were worth $489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc boosted its stake 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 acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the 4th quarter worth about $29,000. Finally, Sachetta LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. TD Cowen boosted their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Citigroup boosted their target price on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $842.22.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on 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 directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,264 shares of company stock worth $7,004,710. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.9 %

NOW stock traded up $14.94 during mid-day trading on Friday, hitting $811.08. The stock had a trading volume of 799,546 shares, compared to its average volume of 1,338,625. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company has a fifty day moving average of $757.14 and a 200 day moving average of $755.61. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $166.27 billion, a price-to-earnings ratio of 86.75, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 6.84 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.