ServiceNow, Inc. (NYSE:NOW) Shares Bought by Beaton Management Co. Inc.

Beaton Management Co. Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,025 shares of the information technology services provider’s stock after purchasing an additional 30 shares during the period. Beaton Management Co. Inc.’s holdings in ServiceNow were worth $806,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sepio Capital LP lifted its position in shares of ServiceNow by 7.8% during the fourth quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock worth $827,000 after purchasing an additional 85 shares in the last quarter. Sachetta LLC bought a new position in ServiceNow in the 4th quarter worth approximately $35,000. Trexquant Investment LP acquired a new position in shares of ServiceNow during the fourth quarter valued at $1,081,000. Quest Partners LLC bought a new stake in shares of ServiceNow during the 4th quarter worth about $167,000. Finally, CreativeOne Wealth LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $249,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW stock opened at $919.25 on Friday. The company has a market capitalization of $188.45 billion, a P/E ratio of 98.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $921.97. The business has a 50-day simple moving average of $818.98 and a two-hundred day simple moving average of $770.11.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.77 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NOW shares. BMO Capital Markets increased their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JMP Securities upped their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $855.44.

About ServiceNow

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.