Optimum Investment Advisors Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Optimum Investment Advisors lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 74.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174 shares of the information technology services provider’s stock after buying an additional 74 shares during the quarter. Optimum Investment Advisors’ holdings in ServiceNow were worth $156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc grew its position in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $32,000. Finally, TFC Financial Management Inc. grew its position in shares of ServiceNow by 466.7% in the 1st quarter. TFC Financial Management Inc. now owns 51 shares of the information technology services provider’s stock worth $39,000 after buying an additional 42 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NOW shares. Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday. Piper Sandler upped their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” 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 note on Monday, October 7th. Finally, Oppenheimer upped their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $914.15.

Insider Activity

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’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 completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 0.2 %

Shares of NOW opened at $917.12 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $949.59. The company has a 50 day simple moving average of $872.40 and a two-hundred day simple moving average of $790.68. The firm has a market cap of $188.01 billion, a P/E ratio of 98.09, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

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