Clarus Wealth Advisors Makes New Investment in ServiceNow, Inc. $NOW

Clarus Wealth Advisors acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,912 shares of the information technology services provider’s stock, valued at approximately $2,038,000.

A number of other hedge funds have also made changes to their positions in NOW. Florida Financial Advisors LLC boosted its position in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. raised its position in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares during the period. American Trust raised its position in ServiceNow by 1.8% in the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc lifted its stake in shares of ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after purchasing an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC lifted its stake in shares of ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOW shares. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Stifel Nicolaus decreased their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Finally, CLSA began coverage on shares of ServiceNow in a research report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $143.39.

ServiceNow Stock Up 0.1%

Shares of NYSE NOW opened at $127.51 on Wednesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The firm has a market cap of $131.85 billion, a price-to-earnings ratio of 79.69, a PEG ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $106.56 and its 200-day simple moving average is $105.74.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,993 shares of company stock valued at $1,716,436 in the last three months. Corporate insiders own 0.34% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.