Valley Brook Capital Group Inc. Buys 35 Shares of ServiceNow, Inc. $NOW

Valley Brook Capital Group Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 621 shares of the information technology services provider’s stock after purchasing an additional 35 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in ServiceNow were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. CWM LLC boosted its stake in ServiceNow by 28.1% in the 2nd quarter. CWM LLC now owns 11,724 shares of the information technology services provider’s stock worth $12,053,000 after purchasing an additional 2,569 shares during the period. Lodestar Private Asset Management LLC bought a new position in ServiceNow in the 2nd quarter worth about $206,000. Vanguard Personalized Indexing Management LLC boosted its stake in ServiceNow by 17.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,905 shares of the information technology services provider’s stock worth $33,855,000 after purchasing an additional 4,904 shares during the period. Oak Ridge Investments LLC boosted its position in shares of ServiceNow by 1.0% during the 2nd quarter. Oak Ridge Investments LLC now owns 11,911 shares of the information technology services provider’s stock valued at $12,245,000 after acquiring an additional 121 shares during the last quarter. Finally, Summa Corp. bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $263,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $888.63 on Friday. The business has a 50 day moving average of $909.21 and a 200 day moving average of $932.27. The company has a market capitalization of $184.84 billion, a price-to-earnings ratio of 111.92, a PEG ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW) last released 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 company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Needham & Company LLC lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at $409,037.85. The trade was a 76.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 over the last ninety days. Corporate insiders own 0.38% 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.