Park Edge Advisors LLC Purchases 109 Shares of ServiceNow, Inc. (NYSE:NOW)

Park Edge Advisors LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 898 shares of the information technology services provider’s stock after acquiring an additional 109 shares during the period. Park Edge Advisors LLC’s holdings in ServiceNow were worth $706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA grew its position in shares of ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NOW. Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Citigroup boosted their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus raised their price target on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $849.62.

ServiceNow Stock Up 0.5 %

Shares of NOW traded up $3.88 during trading hours on Tuesday, hitting $831.74. The company had a trading volume of 479,532 shares, compared to its average volume of 1,293,403. 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 company has a market capitalization of $170.51 billion, a PE ratio of 88.96, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The company’s fifty day moving average price is $784.05 and its two-hundred day moving average price is $759.14.

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

Insider Transactions at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,272 shares of company stock valued at $5,600,700. Corporate insiders own 0.25% of the company’s stock.

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.