Ameritas Advisory Services LLC Takes Position in ServiceNow, Inc. $NOW

Ameritas Advisory Services LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 208 shares of the information technology services provider’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of ServiceNow by 22.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,512 shares of the information technology services provider’s stock valued at $2,583,000 after acquiring an additional 455 shares during the period. Hilltop National Bank acquired a new position in shares of ServiceNow during the second quarter valued at $626,000. Triad Wealth Partners LLC raised its stake in shares of ServiceNow by 32.1% during the second quarter. Triad Wealth Partners LLC now owns 699 shares of the information technology services provider’s stock valued at $719,000 after purchasing an additional 170 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ServiceNow by 20.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,708 shares of the information technology services provider’s stock valued at $54,188,000 after purchasing an additional 8,976 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. raised its stake in shares of ServiceNow by 22.6% during the second quarter. Cornell Pochily Investment Advisors Inc. now owns 418 shares of the information technology services provider’s stock valued at $430,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.8%

Shares of NOW opened at $905.41 on Wednesday. The business’s 50-day moving average price is $911.49 and its 200 day moving average price is $931.09. The stock has a market capitalization of $188.32 billion, a P/E ratio of 114.03, a P/E/G ratio of 4.11 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 current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $3.13 EPS. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated 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 represents a 36.43% decrease in their position. 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 three months. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOW. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. DA Davidson lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Mizuho lifted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Finally, FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.