Probity Advisors Inc. Has $1.13 Million Holdings in ServiceNow, Inc. $NOW

Probity Advisors Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,096 shares of the information technology services provider’s stock after buying an additional 133 shares during the period. Probity Advisors Inc.’s holdings in ServiceNow were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NOW. Bogart Wealth LLC increased its holdings in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co increased its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the second quarter worth $30,000. Finally, LGT Financial Advisors LLC bought a new position in ServiceNow during the second quarter worth $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.6%

NOW opened at $918.17 on Tuesday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a 50-day simple moving average of $911.55 and a 200 day simple moving average of $938.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $190.98 billion, a price-to-earnings ratio of 115.64, a P/E/G ratio of 4.07 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.13 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on NOW. Piper Sandler lifted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. DA Davidson lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $1,121.37.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

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.