Allworth Financial LP raised its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 50.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 422 shares of the information technology services provider’s stock after purchasing an additional 141 shares during the period. Allworth Financial LP’s holdings in ServiceNow were worth $201,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Raised by Vanguard Group Inc. its stake in ServiceNow by 1.9% in the 1st quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after acquiring an additional 306,106 shares during the last quarter. Raised by BlackRock Inc. its stake in ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares during the last quarter. Polen Capital Management LLC raised its stake in ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares during the last quarter. Capital International Investors raised its stake in ServiceNow by 18.1% in the 1st quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after acquiring an additional 491,835 shares during the last quarter. Finally, Sands Capital Management LLC grew its stake in ServiceNow by 3.3% in the 1st quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after acquiring an additional 87,874 shares during the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Insider Activity
In other ServiceNow news, insider Paul John Smith sold 130 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the transaction, the insider now owns 2,157 shares in the company, valued at approximately $1,084,561.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 130 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the transaction, the insider now owns 2,157 shares in the company, valued at approximately $1,084,561.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the transaction, the general counsel now owns 6,627 shares in the company, valued at approximately $2,801,895.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,922 shares of company stock valued at $15,146,557. 0.28% of the stock is owned by insiders.
Changes in Analyst Ratings
A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on ServiceNow in a report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective for the company. Cowen cut their price objective on ServiceNow from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. KeyCorp cut their price objective on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Morgan Stanley cut their price objective on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Finally, UBS Group cut their price objective on ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $593.29.
ServiceNow Stock Performance
Shares of NOW stock opened at $377.04 on Monday. ServiceNow, Inc. had a one-year low of $374.36 and a one-year high of $707.60. The company’s 50-day moving average is $453.76 and its 200-day moving average is $477.37. The company has a market capitalization of $76.16 billion, a price-to-earnings ratio of 414.33, a price-to-earnings-growth ratio of 7.67 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 announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $0.38 EPS. ServiceNow’s revenue for the quarter was up 24.3% on a year-over-year basis. sell-side analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.
ServiceNow Company Profile
(Get Rating)
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.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Get Rating).
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.