ServiceNow, Inc. $NOW Stock Holdings Increased by WESPAC Advisors SoCal LLC

Key Points

• WESPAC Advisors SoCal LLC has increased its holdings in ServiceNow, Inc. by 7.8%, owning 4,196 shares valued at approximately $4.31 million as of the latest SEC filing.
• ServiceNow, Inc. reported earnings per share of $4.09 for the previous quarter, exceeding analysts' expectations of $3.57, alongside a 22.4% year-over-year revenue growth.
• Despite varying analyst ratings, the consensus suggests ServiceNow has a Moderate Buy rating, with a consensus price target of $1,121.37.

WESPAC Advisors SoCal LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,196 shares of the information technology services provider's stock after acquiring an additional 305 shares during the period. WESPAC Advisors SoCal LLC's holdings in ServiceNow were worth $4,314,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC increased its position in shares of ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock valued at $2,689,000 after purchasing an additional 308 shares during the period. PFG Investments LLC increased its position in shares of ServiceNow by 17.8% during the 1st quarter. PFG Investments LLC now owns 1,596 shares of the information technology services provider's stock valued at $1,271,000 after purchasing an additional 241 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of ServiceNow by 8.1% during the 1st quarter. Duncker Streett & Co. Inc. now owns 6,895 shares of the information technology services provider's stock valued at $5,489,000 after purchasing an additional 519 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in shares of ServiceNow by 35.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,223 shares of the information technology services provider's stock valued at $1,770,000 after purchasing an additional 577 shares during the period. Institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of ServiceNow in a research report on Wednesday, October 8th. Guggenheim reiterated a "sell" rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Citigroup lifted their price target 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. Needham & Company LLC lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,121.37.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $918.17 on Tuesday. 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 capitalization of $190.98 billion, a price-to-earnings ratio of 115.64, a PEG ratio of 4.07 and a beta of 0.92. The stock's fifty day simple moving average is $911.55 and its 200 day simple moving average is $938.10. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $3.13 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company's stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Fipps sold 1,452 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was 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 directly owned 457 shares of the company's stock, valued at approximately $409,037.85. This trade represents a 76.06% 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 valued at $16,798,825 over the last quarter. 0.38% of the stock is owned by insiders.

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.

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