Raymond James Financial Services Advisors Inc. Buy 3,220 Shares of ServiceNow, Inc. (NYSE:NOW)


Raised by Raymond James Financial Services Advisors Inc. its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,366 shares of the information technology services provider’s stock after buying an additional 3,220 shares during the period. Holdings by Raymond James Financial Services Advisors Inc. in ServiceNow were worth $50,881,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NOW. Savant Capital LLC lifted its position in ServiceNow by 24.5% during the fourth quarter. Savant Capital LLC now owns 600 shares of the information technology services provider’s stock worth $389,000 after buying an additional 118 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of ServiceNow by 33.3% during the 4th quarter. ProShare Advisors LLC now owns 54,405 shares of the information technology services provider’s stock valued at $35,315,000 after buying an additional 13,603 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of ServiceNow by 10.3% during the 4th quarter. Profund Advisors LLC now owns 3,873 shares of the information technology services provider’s stock valued at $2,514,000 after purchasing an additional 362 shares in the last quarter. First Trust Advisors LP lifted its position in ServiceNow by 7.1% in the 4th quarter. First Trust Advisors LP now owns 253,537 shares of the information technology services provider’s stock valued at $164,573,000 after purchasing an additional 16,723 shares during the last quarter. Finally, Versor Investments LP boosted its position in ServiceNow by 40.6% during the fourth quarter. Versor Investments LP now owns 901 shares of the information technology services provider’s stock valued at $585,000 after acquiring an additional 260 shares in the last quarter. 87.20% of the stock is owned by institutional investors.

ServiceNow Insider Activity

In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the transaction, the chief operating officer now owns 38,980 shares in the company, valued at $18,613,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the sale, the chief operating officer now owns 38,980 shares in the company, valued at approximately $18,613,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. Also, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,427 shares of company stock valued at $16,189,898. Insiders own 0.28% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $459.99 on Wednesday. The stock has a 50-day moving average price of $468.48 and a 200-day moving average price of $499.21. ServiceNow, Inc. had a one-year low of $406.47 and a one-year high of $707.60. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 505.48, a price-to-earnings-growth ratio of 9.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business’s revenue increased by 24.3% compared to the same quarter last year. In the same quarter last year, the business posted $0.38 earnings per share. Equities analysts expect ServiceNow, Inc. will post 1.72 EPS for the current year.

Wall Street Analysts’ Growth Forecast

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. Sanford C. Bernstein began coverage on ServiceNow in a research note on Tuesday, July 19th. They set an “outperform” rating and a $646.00 price objective on the stock. Canaccord Genuity Group dropped their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Guggenheim assumed coverage on ServiceNow in a report on Friday, August 12th. They set a “neutral” rating and a $510.00 target price for the company. Finally, Cowen cut their price target on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $598.84.

ServiceNow profile

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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)



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