MJP Associates Inc. ADV Has $1.12 Million Stake in ServiceNow, Inc. (NYSE:NOW)

MJP Associates Inc. ADV raised its position in ServiceNow, Inc. (NYSE:NOW) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,429 shares of the information technology services provider’s stock after acquiring an additional 151 shares during the quarter. MJP Associates Inc. ADV’s holdings in ServiceNow were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Argonautica Private Wealth Management Inc. boosted its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Optas LLC increased its holdings in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the last quarter. Cedar Wealth Management LLC raised its stake in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the period. Finally, Forbes J M & Co. LLP grew its stake in ServiceNow by 0.3% during the first quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock valued at $4,035,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the sale, the chief financial officer now directly owns 13,290 shares in the company, valued at $9,819,715.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders have sold a total of 9,264 shares of company stock valued at $7,004,710 over the last ninety days. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. TD Cowen boosted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group lowered their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wolfe Research reissued an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Finally, BMO Capital Markets upped their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Trading Up 1.9 %

NYSE:NOW traded up $14.94 during midday trading on Friday, hitting $811.08. The stock had a trading volume of 799,546 shares, compared to its average volume of 1,338,625. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $757.14 and a 200 day moving average of $755.55. The company has a market capitalization of $166.27 billion, a price-to-earnings ratio of 86.75, a PEG ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 6.84 EPS for the current year.

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.