PUREfi Wealth LLC Buys 39 Shares of ServiceNow, Inc. $NOW

PUREfi Wealth LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302 shares of the information technology services provider’s stock after purchasing an additional 39 shares during the quarter. PUREfi Wealth LLC’s holdings in ServiceNow were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at approximately $382,000. Corient IA LLC bought a new stake in ServiceNow during the 1st quarter worth approximately $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in ServiceNow during the 1st quarter worth approximately $1,820,000. Goldman Sachs Group Inc. grew its holdings in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after acquiring an additional 840,731 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in ServiceNow during the 1st quarter worth approximately $19,278,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at $409,037.85. This represents a 76.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on 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 completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 0.2%

ServiceNow stock opened at $911.75 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm’s fifty day moving average is $914.67 and its 200 day moving average is $930.67. The company has a market capitalization of $189.64 billion, a PE ratio of 114.83, a PEG ratio of 4.11 and a beta of 0.92.

ServiceNow (NYSE:NOW) last announced 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 during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.13 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. DA Davidson boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned 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, the company has an average rating of “Moderate Buy” and a consensus price target 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.