Pathway Financial Advisers LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Pathway Financial Advisers LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 41.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 906 shares of the information technology services provider’s stock after purchasing an additional 267 shares during the period. Pathway Financial Advisers LLC’s holdings in ServiceNow were worth $810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Independence Bank of Kentucky lifted its position in shares of ServiceNow by 27.2% in the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock worth $89,000 after purchasing an additional 25 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of ServiceNow by 45.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,389 shares of the information technology services provider’s stock worth $1,821,000 after purchasing an additional 743 shares during the period. Vicus Capital purchased a new stake in shares of ServiceNow in the 1st quarter worth about $306,000. SteelPeak Wealth LLC purchased a new stake in shares of ServiceNow in the 1st quarter worth about $485,000. Finally, LVW Advisors LLC lifted its position in shares of ServiceNow by 18.0% in the 1st quarter. LVW Advisors LLC now owns 347 shares of the information technology services provider’s stock worth $265,000 after purchasing an additional 53 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NOW shares. Oppenheimer increased their price target on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $970.33.

Insider Buying and Selling

In related news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $950.85 on Friday. The company has a 50 day moving average price of $885.56 and a 200-day moving average price of $797.46. ServiceNow, Inc. has a 52 week low of $548.44 and a 52 week high of $979.78. The firm has a market capitalization of $195.88 billion, a PE ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. 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 data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 7.41 earnings per share 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.