Hudson Valley Investment Advisors Inc. ADV Makes New Investment in ServiceNow, Inc. $NOW

Hudson Valley Investment Advisors Inc. ADV bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,479 shares of the information technology services provider’s stock, valued at approximately $5,633,000.

Several other institutional investors have also recently made changes to their positions in NOW. Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter worth $26,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the 2nd quarter worth $30,000. Finally, Dagco Inc. bought a new stake in shares of ServiceNow in the 1st quarter worth $33,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $911.75 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $189.64 billion, a PE ratio of 114.83, a P/E/G ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a 50-day moving average price of $914.67 and a two-hundred day moving average price of $929.33.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned $3.13 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NOW shares. UBS Group reduced their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a research note on Saturday, September 27th. FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. DA Davidson increased their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Barclays set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Company 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.