ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 691 shares of the information technology services provider’s stock after purchasing an additional 21 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in ServiceNow were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NOW. Argonautica Private Wealth Management Inc. boosted its holdings in ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares in the last quarter. Optas LLC raised its stake in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC lifted its holdings in ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after purchasing an additional 14 shares during the last quarter. Forbes J M & Co. LLP boosted its position in ServiceNow by 0.3% during the first quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after purchasing an additional 15 shares during the period. Finally, Regent Peak Wealth Advisors LLC grew its holdings in ServiceNow by 3.9% during the first quarter. Regent Peak Wealth Advisors LLC now owns 400 shares of the information technology services provider’s stock valued at $305,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 0.9 %

Shares of ServiceNow stock traded up $7.34 during trading hours on Friday, reaching $828.27. 702,052 shares of the company’s stock were exchanged, compared to its average volume of 1,303,029. The stock has a market cap of $169.80 billion, a P/E ratio of 88.59, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a 50 day moving average of $782.00 and a two-hundred day moving average of $759.16. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $850.33.

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

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The stock was 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 directly 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 through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,072 shares of company stock worth $6,930,684. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. TD Cowen raised their target price on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Wells Fargo & Company upped their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $849.62.

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.