Park Edge Advisors LLC Has $706,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Park Edge Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 13.8% in the second quarter, HoldingsChannel.com reports. The firm owned 898 shares of the information technology services provider’s stock after purchasing an additional 109 shares during the quarter. Park Edge Advisors LLC’s holdings in ServiceNow were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NOW. Creekmur Asset Management LLC bought a new position in ServiceNow during the 1st quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $29,000. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Sachetta LLC bought a new stake in ServiceNow during the fourth quarter worth $35,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 0.5 %

NYSE NOW traded up $3.88 during trading hours on Tuesday, hitting $831.74. 479,532 shares of the company’s stock were exchanged, compared to its average volume of 1,293,403. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $784.05 and a 200 day simple moving average of $759.14. The firm has a market cap of $170.51 billion, a price-to-earnings ratio of 88.96, a PEG ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JMP Securities raised their target price on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $849.62.

Insider Buying and Selling at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,272 shares of company stock valued at $5,600,700. Corporate insiders own 0.25% of the company’s stock.

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.