ServiceNow, Inc. $NOW Stock Position Raised by Marino Stram & Associates LLC

Marino Stram & Associates LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369 shares of the information technology services provider’s stock after acquiring an additional 14 shares during the period. Marino Stram & Associates LLC’s holdings in ServiceNow were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Impact Capital Partners LLC lifted its holdings in shares of ServiceNow by 2.6% in the 2nd quarter. Impact Capital Partners LLC now owns 676 shares of the information technology services provider’s stock worth $695,000 after purchasing an additional 17 shares during the last quarter. Childress Capital Advisors LLC increased its position in ServiceNow by 11.9% in the second quarter. Childress Capital Advisors LLC now owns 669 shares of the information technology services provider’s stock worth $688,000 after buying an additional 71 shares during the period. PFG Investments LLC increased its position in ServiceNow by 6.2% in the second quarter. PFG Investments LLC now owns 1,695 shares of the information technology services provider’s stock worth $1,743,000 after buying an additional 99 shares during the period. Consolidated Portfolio Review Corp increased its position in ServiceNow by 38.9% in the second quarter. Consolidated Portfolio Review Corp now owns 836 shares of the information technology services provider’s stock worth $859,000 after buying an additional 234 shares during the period. Finally, Midwest Financial Group LLC bought a new position in shares of ServiceNow during the second quarter worth about $245,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last quarter. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several recent research reports. Guggenheim restated a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Citigroup lifted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $920.51 on Wednesday. The stock has a fifty day moving average price of $918.47 and a two-hundred day moving average price of $928.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $191.47 billion, a P/E ratio of 115.93, a PEG ratio of 4.24 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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

ServiceNow Company 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.