Toth Financial Advisory Corp Acquires 616 Shares of ServiceNow, Inc. $NOW

Key Points

• Toth Financial Advisory Corp significantly increased its stake in ServiceNow, acquiring 616 additional shares, raising their total ownership to 820 shares valued at approximately $843,000.
• ServiceNow reported strong earnings results with $4.09 EPS, exceeding expectations, and a 22.4% year-over-year revenue growth, reaching $3.22 billion.
• Insider trading activity includes CFO Gina Mastantuono and CEO William R. Mcdermott selling shares, indicating a collective decrease in their ownership by 12.59% and 46.83%, respectively.

Toth Financial Advisory Corp boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 302.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 820 shares of the information technology services provider's stock after purchasing an additional 616 shares during the quarter. Toth Financial Advisory Corp's holdings in ServiceNow were worth $843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow during the 2nd quarter worth about $30,000. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% during the 1st 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 stake in shares of ServiceNow during the first quarter worth approximately $26,000. Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co boosted its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.6%

Shares of NYSE NOW opened at $963.21 on Monday. The company has a 50 day simple moving average of $922.60 and a 200 day simple moving average of $923.83. The firm has a market cap of $200.35 billion, a PE ratio of 121.31, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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 (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 over the last 90 days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial boosted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

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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