Magnus Financial Group LLC Has $594,000 Position in ServiceNow, Inc. $NOW

Magnus Financial Group LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 578 shares of the information technology services provider’s stock after purchasing an additional 51 shares during the period. Magnus Financial Group LLC’s holdings in ServiceNow were worth $594,000 as of its most recent filing with the SEC.

Other hedge funds 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 in the second quarter valued at approximately $30,000. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the 1st quarter worth $26,000. WASHINGTON TRUST Co increased its holdings in shares of 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 purchasing an additional 31 shares during the period. Finally, Dagco Inc. acquired a new position in shares of ServiceNow during the first quarter valued at about $33,000. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 1.5%

ServiceNow stock opened at $919.44 on Friday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $191.24 billion, a price-to-earnings ratio of 115.80, a PEG ratio of 4.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50 day simple moving average is $920.28 and its 200 day simple moving average is $925.55.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 EPS. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Mizuho raised their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Finally, FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

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.