Pathway Financial Advisers LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisers LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 41.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 906 shares of the information technology services provider’s stock after purchasing an additional 267 shares during the quarter. Pathway Financial Advisers LLC’s holdings in ServiceNow were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new position in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow during the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NOW. Deutsche Bank Aktiengesellschaft raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer raised their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group raised their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Truist Financial increased their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Price Performance

Shares of NOW opened at $950.81 on Thursday. The firm has a market cap of $195.87 billion, a PE ratio of 147.87, a PEG ratio of 5.67 and a beta of 0.99. The firm’s 50 day moving average price is $892.35 and its 200 day moving average price is $801.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a twelve month low of $564.90 and a twelve month high of $979.78.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

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.