Sunbelt Securities Inc. Has $2.78 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Sunbelt Securities Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,538 shares of the information technology services provider’s stock after acquiring an additional 63 shares during the quarter. Sunbelt Securities Inc.’s holdings in ServiceNow were worth $2,783,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOW. Northwestern Mutual Wealth Management Co. lifted its stake in ServiceNow by 9.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,561 shares of the information technology services provider’s stock valued at $13,027,000 after acquiring an additional 1,484 shares in the last quarter. NewEdge Advisors LLC boosted its stake in ServiceNow by 15.0% in the second quarter. NewEdge Advisors LLC now owns 24,778 shares of the information technology services provider’s stock valued at $19,493,000 after acquiring an additional 3,223 shares during the last quarter. Nemes Rush Group LLC lifted its stake in ServiceNow by 65.9% in the second quarter. Nemes Rush Group LLC now owns 277 shares of the information technology services provider’s stock valued at $218,000 after purchasing an additional 110 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of ServiceNow during the 2nd quarter worth $19,310,000. Finally, Copperwynd Financial LLC boosted its position in ServiceNow by 31.3% during the second quarter. Copperwynd Financial LLC now owns 1,257 shares of the information technology services provider’s stock worth $1,024,000 after purchasing an additional 300 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JMP Securities increased their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Citigroup raised their target price on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company raised their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Down 0.3 %

NYSE:NOW opened at $881.79 on Monday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $945.46. The company has a 50-day moving average of $837.59 and a 200 day moving average of $776.29. The firm has a market cap of $180.77 billion, a PE ratio of 94.31, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last three months. 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.