Valley National Advisers Inc. Has $855,000 Holdings in ServiceNow, Inc. $NOW

Valley National Advisers Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 832 shares of the information technology services provider’s stock after purchasing an additional 101 shares during the quarter. Valley National Advisers Inc.’s holdings in ServiceNow were worth $855,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the second quarter valued at $30,000. Bogart Wealth LLC increased its stake in 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 during the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the first quarter worth approximately $26,000. WASHINGTON TRUST Co grew its holdings in 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 during the last quarter. Finally, Dagco Inc. bought a new stake in shares of ServiceNow during the first quarter valued at approximately $33,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company’s stock, valued at approximately $409,037.85. The trade was a 76.06% 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 in the last quarter. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Up 0.2%

NOW opened at $911.75 on Monday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market capitalization of $189.64 billion, a price-to-earnings ratio of 114.83, a P/E/G ratio of 4.11 and a beta of 0.92. The business has a 50 day moving average of $914.67 and a 200-day moving average of $930.67. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.13 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NOW shares. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Saturday, September 27th. Needham & Company LLC upped their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Finally, DA Davidson boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

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.