WESPAC Advisors SoCal LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

WESPAC Advisors SoCal LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,894 shares of the information technology services provider’s stock after purchasing an additional 205 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in ServiceNow were worth $3,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc boosted its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. DT Investment Partners LLC grew its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,325 shares of company stock valued at $5,024,928. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOW. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Needham & Company LLC upped their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $974.04.

ServiceNow Price Performance

NYSE NOW opened at $1,011.39 on Friday. The company has a 50 day simple moving average of $932.47 and a 200-day simple moving average of $824.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,061.66. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow 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.