Optimum Investment Advisors Buys 74 Shares of ServiceNow, Inc. (NYSE:NOW)

Optimum Investment Advisors raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 74.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174 shares of the information technology services provider’s stock after purchasing an additional 74 shares during the quarter. Optimum Investment Advisors’ holdings in ServiceNow were worth $156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its position in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the last quarter. CX Institutional lifted its position in shares of ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares during the last quarter. Optas LLC lifted its position in shares of ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in shares of ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 0.2 %

Shares of NYSE:NOW opened at $917.12 on Friday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59. The company has a market capitalization of $188.01 billion, a PE ratio of 98.09, a PEG ratio of 5.63 and a beta of 0.99. The business has a 50 day moving average of $872.40 and a two-hundred day moving average of $790.68. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (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 company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the company posted $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays raised their price target on ServiceNow from $890.00 to $980.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Evercore ISI raised their price target on ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $914.15.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is owned by company insiders.

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.