M3 Advisory Group LLC Invests $266,000 in ServiceNow, Inc. (NYSE:NOW)

M3 Advisory Group LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 298 shares of the information technology services provider’s stock, valued at approximately $266,000.

Other large investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc grew its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in ServiceNow during the second quarter worth approximately $39,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,267 shares of company stock worth $5,935,447. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NOW shares. Stifel Nicolaus raised their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. KeyCorp decreased their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Mizuho lifted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $914.15.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $4.47 on Friday, hitting $921.59. The company had a trading volume of 138,114 shares, compared to its average volume of 1,265,966. The business has a 50-day simple moving average of $872.40 and a 200-day simple moving average of $790.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $188.93 billion, a PE ratio of 98.09, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.77 EPS. Research analysts expect that ServiceNow, Inc. will post 6.78 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.