ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 11.1% during the first quarter, Holdings Channel reports. The firm owned 2,624 shares of the information technology services provider’s stock after purchasing an additional 263 shares during the period. Ballentine Partners LLC’s holdings in ServiceNow were worth $2,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow during the fourth quarter worth about $29,000. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Sachetta LLC purchased a new position in ServiceNow in the fourth quarter valued at approximately $35,000. Disciplined Equity Management Inc. purchased a new stake in ServiceNow during the fourth quarter worth approximately $35,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $41,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE NOW traded down $10.90 during trading hours on Monday, reaching $738.43. The company’s stock had a trading volume of 51,907 shares, compared to its average volume of 1,277,179. The stock has a market cap of $151.38 billion, a PE ratio of 80.14, a PEG ratio of 4.60 and a beta of 0.96. The business has a 50-day simple moving average of $723.59 and a 200 day simple moving average of $739.22. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 190 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. Wolfe Research restated an “outperform” rating and set a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Tuesday, June 18th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Finally, BMO Capital Markets lowered their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

ServiceNow Company 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.