Marcum Wealth LLC Buys 17 Shares of ServiceNow, Inc. (NYSE:NOW)

Marcum Wealth LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 632 shares of the information technology services provider’s stock after purchasing an additional 17 shares during the quarter. Marcum Wealth LLC’s holdings in ServiceNow were worth $497,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NOW. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. Jennison Associates LLC lifted its stake in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at about $1,648,259,000. Massachusetts Financial Services Co. MA raised its stake in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NOW shares. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday, July 25th. Jefferies Financial Group raised their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $842.22.

ServiceNow Price Performance

Shares of NOW stock traded down $8.59 on Monday, reaching $782.05. The company’s stock had a trading volume of 2,019,221 shares, compared to its average volume of 1,341,963. The company has a market capitalization of $161.10 billion, a P/E ratio of 83.64, a PEG ratio of 4.82 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $850.33. The stock’s 50 day simple moving average is $747.96 and its 200-day simple moving average is $754.19.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the firm earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares in the company, valued at $317,541.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The disclosure for this sale can be found here. Insiders sold 7,330 shares of company stock valued at $5,482,012 in the last 90 days. Insiders own 0.25% 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.