Guardian Asset Advisors LLC Invests $342,000 in ServiceNow, Inc. $NOW

Key Points

• Guardian Asset Advisors LLC has invested approximately $342,000 in ServiceNow, Inc. by purchasing 333 shares of its stock.
• ServiceNow reported a 22.4% increase in revenue year-over-year, achieving $3.22 billion in revenue for the latest quarter, exceeding analysts' expectations.
• Equities analysts maintain a generally optimistic view on ServiceNow, with an average price target of $1,124.17 and a rating of "Moderate Buy."

Guardian Asset Advisors LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 333 shares of the information technology services provider's stock, valued at approximately $342,000.

Other large investors have also modified their holdings of the company. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth about $30,000. Finally, LGT Financial Advisors LLC acquired a new stake in ServiceNow during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE NOW opened at $939.60 on Friday. The stock has a market capitalization of $195.44 billion, a price-to-earnings ratio of 118.34, a PEG ratio of 4.21 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month 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. The stock has a 50-day moving average of $916.59 and a 200 day moving average of $939.53.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 EPS. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOW shares. Guggenheim reissued a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Morgan Stanley upgraded ServiceNow from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Finally, Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,124.17.

Insiders Place Their Bets

In other 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Fipps sold 1,452 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares of the company's stock, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company's stock.

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.

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