ServiceNow, Inc. $NOW Stake Boosted by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,018 shares of the information technology services provider's stock after purchasing an additional 548 shares during the period. ServiceNow accounts for 1.5% of Trifecta Capital Advisors LLC's portfolio, making the stock its 22nd biggest position. Trifecta Capital Advisors LLC's holdings in ServiceNow were worth $9,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the second quarter valued at approximately $30,000. Bogart Wealth LLC increased its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co grew its position 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 acquiring an additional 31 shares during the last quarter. Finally, Dagco Inc. bought a new position in shares of ServiceNow during the first quarter worth about $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.1%

ServiceNow stock opened at $914.15 on Thursday. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company's fifty day simple moving average is $910.23 and its 200-day simple moving average is $930.97. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $190.14 billion, a P/E ratio of 115.13, a P/E/G ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS 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 the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm's revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.13 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm's 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 sale, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This trade represents a 12.59% 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 90 days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NOW shares. Weiss Ratings reissued a "hold (c)" rating on shares of ServiceNow in a research note on Wednesday. Mizuho lifted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Citigroup raised their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

ServiceNow Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.