Wealthstream Advisors Inc. Invests $293,000 in ServiceNow, Inc. $NOW

Key Points

• Wealthstream Advisors Inc. has invested approximately $293,000 in ServiceNow, Inc., purchasing 285 shares during the second quarter.
• ServiceNow reported a quarterly revenue of $3.22 billion, exceeding analysts' expectations, and a net margin of 13.78%.
• Brokerages have revised their price targets for ServiceNow, with Bank of America raising its target to $1,200.00 and Morgan Stanley to $1,250.00, while maintaining a "buy" rating.

Wealthstream Advisors Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 285 shares of the information technology services provider's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC grew 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 last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the 1st quarter worth approximately $26,000. WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the 1st 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. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the 2nd quarter worth approximately $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow in the 1st quarter valued at approximately $33,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $904.57 on Friday. 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 market capitalization of $188.15 billion, a P/E ratio of 113.93, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92. The firm's fifty day simple moving average is $910.30 and its two-hundred day simple moving average is $935.59. 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 issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.13 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated 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 transaction, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. Bank of America lifted their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, UBS Group reduced their price objective on shares of ServiceNow from $1,100.00 to $1,075.00 and set a "buy" rating on the stock in a research note on Tuesday. Two 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,121.37.

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.

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.