Manchester Financial Inc. Buys Shares of 210 ServiceNow, Inc. $NOW

Manchester Financial Inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 210 shares of the information technology services provider’s stock, valued at approximately $216,000.

Several other large investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. raised its stake in ServiceNow by 11.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 4,277 shares of the information technology services provider’s stock valued at $4,397,000 after purchasing an additional 431 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in ServiceNow by 1.3% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 109,560 shares of the information technology services provider’s stock valued at $112,636,000 after purchasing an additional 1,452 shares during the period. Stratos Wealth Partners LTD. raised its stake in ServiceNow by 3.9% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 8,927 shares of the information technology services provider’s stock valued at $9,178,000 after purchasing an additional 339 shares during the period. Primoris Wealth Advisors LLC raised its stake in ServiceNow by 1.4% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 999 shares of the information technology services provider’s stock valued at $1,027,000 after purchasing an additional 14 shares during the period. Finally, Stratos Wealth Advisors LLC raised its stake in ServiceNow by 5.3% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 961 shares of the information technology services provider’s stock valued at $988,000 after purchasing an additional 48 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.1%

Shares of NYSE:NOW opened at $904.57 on Friday. The stock has a market capitalization of $188.15 billion, a PE ratio of 113.93, a P/E/G ratio of 4.03 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 firm has a fifty day moving average price of $910.30 and a 200 day moving average price of $934.82. 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 data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) 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 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 for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 earnings per share. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOW shares. Citigroup upped their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial upped their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,121.37.

About ServiceNow

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.