2,501 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by DRW Securities LLC

DRW Securities LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,501 shares of the information technology services provider's stock, valued at approximately $1,967,000.

Several other hedge funds have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of ServiceNow by 5.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 815 shares of the information technology services provider's stock valued at $664,000 after acquiring an additional 45 shares during the last quarter. Fairscale Capital LLC bought a new stake in ServiceNow in the second quarter valued at approximately $415,000. Itau Unibanco Holding S.A. purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $2,911,000. Teca Partners LP grew its holdings in shares of ServiceNow by 13.6% in the second quarter. Teca Partners LP now owns 10,993 shares of the information technology services provider's stock worth $8,648,000 after purchasing an additional 1,318 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of ServiceNow in the second quarter worth $3,343,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 2.0 %

Shares of NYSE:NOW traded up $18.11 on Friday, hitting $937.36. 3,609,403 shares of the company traded hands, compared to its average volume of 1,287,549. The stock has a 50 day simple moving average of $822.56 and a 200-day simple moving average of $771.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $192.16 billion, a PE ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $940.12.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow's revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company's stock, valued at approximately $3,006,496.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company's stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. BMO Capital Markets boosted their price target on ServiceNow from $830.00 to $860.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on ServiceNow from $820.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on ServiceNow from $885.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $855.44.

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.