Brighton Jones LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Brighton Jones LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 48.0% during the 1st quarter, HoldingsChannel reports. The fund owned 1,240 shares of the information technology services provider’s stock after acquiring an additional 402 shares during the period. Brighton Jones LLC’s holdings in ServiceNow were worth $691,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NOW. Hancock Whitney Corp lifted its holdings in ServiceNow by 3.3% in the first quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after buying an additional 64 shares during the period. Prospera Financial Services Inc bought a new position in ServiceNow in the first quarter valued at about $996,000. Walleye Capital LLC lifted its holdings in ServiceNow by 54.8% in the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after purchasing an additional 2,507 shares during the period. Exane Derivatives raised its holdings in ServiceNow by 7.0% in the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 95 shares during the period. Finally, Natixis Advisors LP raised its holdings in ServiceNow by 124.4% in the first quarter. Natixis Advisors LP now owns 183,173 shares of the information technology services provider’s stock valued at $102,007,000 after buying an additional 101,544 shares during the period. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

Internal Activity

In other news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at $1,871,444.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC’s website. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the sale, the director now owns 33,600 shares in the company, valued at $16,699,536. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,256 shares of company stock valued at $14,019,372. 0.28% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

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ServiceNow stock opened at $450.77 on Friday. The company has a market cap of $91.06 billion, a PE ratio of 495.35, a P/E/G ratio of 8.76 and a beta of 0.94. The company has a fifty day moving average price of $462.31 and a two hundred day moving average price of $488.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 12 month low of $406.47 and a 12 month high of $707.60.

ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (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 in the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 1.72 earnings per share for the current year.

Wall Street Analysts’ Growth Forecast

NOW has been the subject of several research reports. Morgan Stanley cut their price target on shares of ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Royal Bank of Canada dropped their price objective on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Citigroup dropped their price objective on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Finally, UBS Group dropped their price objective on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.

About ServiceNow

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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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