GPS Wealth Strategies Group LLC Purchases 389 Shares of ServiceNow, Inc. (NYSE:NOW)

GPS Wealth Strategies Group LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,336 shares of the information technology services provider’s stock after acquiring an additional 389 shares during the quarter. ServiceNow makes up 1.0% of GPS Wealth Strategies Group LLC’s investment portfolio, making the stock its 15th largest position. GPS Wealth Strategies Group LLC’s holdings in ServiceNow were worth $6,558,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in ServiceNow by 1,623.8% during the 2nd quarter. ORG Partners LLC now owns 724 shares of the information technology services provider’s stock valued at $571,000 after acquiring an additional 682 shares during the period. Deltec Asset Management LLC purchased a new stake in ServiceNow during the 2nd quarter worth about $971,000. Monetary Management Group Inc. boosted its stake in ServiceNow by 14.1% in the 2nd quarter. Monetary Management Group Inc. now owns 1,010 shares of the information technology services provider’s stock worth $795,000 after purchasing an additional 125 shares during the period. Great Valley Advisor Group Inc. grew its holdings in ServiceNow by 36.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 8,078 shares of the information technology services provider’s stock valued at $6,354,000 after buying an additional 2,148 shares in the last quarter. Finally, Albert D Mason Inc. bought a new stake in shares of ServiceNow during the second quarter valued at about $871,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada boosted their price objective on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $842.22.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Frederic B. Luddy sold 598 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total value of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares of the company’s stock, valued at $317,541.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the sale, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,943 shares of company stock worth $7,566,635. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $0.22 during midday trading on Wednesday, reaching $819.02. 681,006 shares of the company’s stock traded hands, compared to its average volume of 1,326,590. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The stock has a 50 day moving average of $763.01 and a 200 day moving average of $756.17. The company has a market cap of $167.90 billion, a price-to-earnings ratio of 87.57, a P/E/G ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last issued 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. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

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.