Valley Wealth Managers Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Valley Wealth Managers Inc. purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 485 shares of the information technology services provider’s stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Csenge Advisory Group grew its position in shares of ServiceNow by 2.5% during the first quarter. Csenge Advisory Group now owns 794 shares of the information technology services provider’s stock worth $605,000 after purchasing an additional 19 shares in the last quarter. Eos Management L.P. purchased a new stake in shares of ServiceNow during the first quarter worth about $488,000. Signaturefd LLC grew its position in shares of ServiceNow by 6.9% during the first quarter. Signaturefd LLC now owns 3,610 shares of the information technology services provider’s stock worth $2,752,000 after purchasing an additional 233 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $439,000. Finally, Southern Capital Advisors LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $1,684,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.9 %

NOW traded up $6.86 during trading on Thursday, hitting $750.01. 801,571 shares of the stock were exchanged, compared to its average volume of 1,287,334. The firm has a 50 day simple moving average of $735.85 and a 200 day simple moving average of $745.37. The firm has a market cap of $153.75 billion, a price-to-earnings ratio of 79.90, a P/E/G ratio of 4.80 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. Jefferies Financial Group increased their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Tuesday, July 2nd. Morgan Stanley increased their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday. Finally, StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $812.60.

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.