Magnus Financial Group LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Magnus Financial Group LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 484 shares of the information technology services provider’s stock after purchasing an additional 22 shares during the period. Magnus Financial Group LLC’s holdings in ServiceNow were worth $433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Vermont raised its holdings in ServiceNow by 38.9% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the information technology services provider’s stock valued at $187,000 after acquiring an additional 74 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of ServiceNow in the fourth quarter valued at $114,000. Beese Fulmer Investment Management Inc. increased its stake in ServiceNow by 8.8% in the first quarter. Beese Fulmer Investment Management Inc. now owns 471 shares of the information technology services provider’s stock valued at $359,000 after purchasing an additional 38 shares during the last quarter. Mather Group LLC. lifted its position in ServiceNow by 4.6% during the first quarter. Mather Group LLC. now owns 3,074 shares of the information technology services provider’s stock worth $2,172,000 after buying an additional 134 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in ServiceNow by 0.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 9,401 shares of the information technology services provider’s stock worth $7,167,000 after buying an additional 73 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI lifted their price target on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Barclays boosted their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.04.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred 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 $9,479,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the 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 completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NOW opened at $927.96 on Wednesday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.59. 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 firm has a market cap of $190.23 billion, a price-to-earnings ratio of 99.25, a PEG ratio of 5.63 and a beta of 0.99. The company has a fifty day simple moving average of $867.13 and a 200 day simple moving average of $788.88.

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