Vaughan David Investments LLC IL Acquires Shares of 279 ServiceNow, Inc. (NYSE:NOW)

Vaughan David Investments LLC IL bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 279 shares of the information technology services provider’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the fourth quarter worth approximately $29,000. AdvisorNet Financial Inc increased its position in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow during the fourth quarter worth $35,000. Sachetta LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at about $35,000. Finally, PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow in the first quarter valued at about $38,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, UBS Group reduced their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $818.20.

ServiceNow Trading Down 4.5 %

Shares of NOW stock traded down $34.72 during mid-day trading on Wednesday, reaching $730.80. 2,082,144 shares of the stock traded hands, compared to its average volume of 1,287,607. The stock’s fifty day simple moving average is $741.36 and its two-hundred day simple moving average is $749.47. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market cap of $149.81 billion, a price-to-earnings ratio of 78.16, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. On average, research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 over the last 90 days. 0.25% of the stock is owned by insiders.

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.