Silver Oak Securities Incorporated Has $962,000 Stake in ServiceNow, Inc. $NOW

Key Points

• Silver Oak Securities Incorporated has increased its stake in ServiceNow, Inc. by 41.0%, bringing its holdings to 936 shares valued at approximately $962,000.
• ServiceNow received several upgrades from analysts, with price targets raised to as high as $1,234.00, indicating strong bullish sentiment among ratings.
• Insider selling activity was noted, with Vice Chairman Nicholas Tzitzon and General Counsel Russell S. Elmer reducing their ownership, selling shares worth over $2.9 million combined.

Silver Oak Securities Incorporated lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 41.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 936 shares of the information technology services provider's stock after acquiring an additional 272 shares during the period. Silver Oak Securities Incorporated's holdings in ServiceNow were worth $962,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the first quarter valued at $26,000. WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in ServiceNow in the second quarter valued at $30,000. Finally, Dagco Inc. acquired a new stake in ServiceNow in the first quarter valued at $33,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Guggenheim reiterated a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. UBS Group lowered their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Mizuho raised their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. BMO Capital Markets raised their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Barclays set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company's stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $19.93 during midday trading on Tuesday, hitting $927.86. 662,950 shares of the company traded hands, compared to its average volume of 1,690,133. The stock has a market cap of $192.99 billion, a price-to-earnings ratio of 116.86, a PEG ratio of 4.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm's fifty day moving average price is $922.33 and its 200-day moving average price is $924.52. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the firm posted $3.13 EPS. The firm's revenue was up 22.4% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.