Altus Wealth Group LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Altus Wealth Group LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,124 shares of the information technology services provider’s stock after acquiring an additional 91 shares during the quarter. ServiceNow accounts for 1.2% of Altus Wealth Group LLC’s portfolio, making the stock its 21st biggest holding. Altus Wealth Group LLC’s holdings in ServiceNow were worth $2,458,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NOW. Optas LLC increased its position in shares of ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the period. Cedar Wealth Management LLC grew its position in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. Financial Advocates Investment Management raised its holdings in shares of ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 14 shares in the last quarter. Ndwm LLC raised its holdings in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after acquiring an additional 14 shares in the last quarter. Finally, Forbes J M & Co. LLP grew its holdings in ServiceNow by 0.3% during the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. Truist Financial upped their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. TD Cowen increased their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Thursday, July 25th. Finally, JMP Securities upped their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Price Performance

NYSE NOW opened at $835.35 on Friday. The company has a market cap of $171.25 billion, a price-to-earnings ratio of 89.34, a PEG ratio of 5.13 and a beta of 0.99. 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 stock’s fifty day moving average price is $798.57 and its 200 day moving average price is $762.37. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $863.85.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating 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 business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current 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.