Morling Financial Advisors LLC Acquires 13 Shares of ServiceNow, Inc. (NYSE:NOW)

Morling Financial Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 527 shares of the information technology services provider’s stock after purchasing an additional 13 shares during the quarter. Morling Financial Advisors LLC’s holdings in ServiceNow were worth $415,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc raised its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the fourth quarter valued at approximately $29,000. EntryPoint Capital LLC grew 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 purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NOW shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 0.5 %

Shares of NOW stock opened at $860.04 on Wednesday. The stock has a 50 day simple moving average of $801.98 and a 200 day simple moving average of $764.19. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $866.45. 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 cap of $177.17 billion, a P/E ratio of 91.98, a price-to-earnings-growth ratio of 4.95 and a beta of 0.98.

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

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.