Prime Capital Investment Advisors LLC Increases Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Prime Capital Investment Advisors LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,881 shares of the information technology services provider’s stock after purchasing an additional 114 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ServiceNow were worth $9,346,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC boosted its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the fourth quarter worth $29,000. Finally, Ridgewood Investments LLC purchased a new position in ServiceNow in the second quarter worth $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOW. KeyCorp lowered their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Truist Financial boosted their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Price Performance

NOW stock opened at $878.95 on Monday. The stock has a market capitalization of $181.06 billion, a price-to-earnings ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The stock’s fifty day simple moving average is $807.22 and its 200-day simple moving average is $766.54. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $889.52. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Equities research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

ServiceNow 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.