ServiceNow, Inc. (NYSE:NOW) Shares Bought by Valmark Advisers Inc.

Valmark Advisers Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report ) by 393.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,199 shares of the information technology services provider’s stock after buying an additional 1,753 shares during the quarter. The holdings of Valmark Advisers Inc. in ServiceNow were worth $1,730,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. M&G Plc purchased a new position in ServiceNow in the first quarter worth approximately $11,030,000. Smithfield Trust Co boosted its stake in ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Empirical Financial Services LLC dba Empirical Wealth Management raised its position in shares of ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC dba Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Summa Corp. purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $381,000. Hedge funds and other institutional investors own 87.18% of the company’s shares.

Insiders place their bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now 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 7,129 shares of company stock worth $5,759,436 over the last 90 days. Corporate insiders own 0.25% of the company’s shares.

ServiceNow trading up 2.9%

NYSE:NOW opened at $855.00 on Monday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $857.25. The firm has a market cap of $176.13 billion, a PE ratio of 91.44, a price-to-earnings-growth ratio of 5.13 and a beta of 0.99. 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 fifty day moving average price of $791.80 and a 200 day moving average price of $760.31.

ServiceNow (NYSE:NOW – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. In the same quarter last year, the business posted EPS of $0.77. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst upgrades and downgrades

A number of analysts have issued reports on the company. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Piper Sandler upped their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wolfe Research reaffirmed an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $849.62, according to MarketBeat.com.

Get the latest research report on ServiceNow

ServiceNow Company Profile

(Free report)

ServiceNow, Inc provides end-to-end intelligent workflow automation platform solutions for digital businesses in North America, Europe, 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.

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