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

Brighton Jones LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,959 shares of the information technology services provider’s stock after purchasing an additional 20 shares during the period. Brighton Jones LLC’s holdings in ServiceNow were worth $2,328,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. M&G Plc purchased a new position in ServiceNow in the 1st quarter valued at approximately $11,030,000. New Mexico Educational Retirement Board boosted its position in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares during the period. Wealthspire Advisors LLC boosted its position in ServiceNow by 3.4% in the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 56 shares during the period. Finally, Brookstone Capital Management boosted its position in ServiceNow by 25.5% in the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock valued at $10,595,000 after buying an additional 2,928 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on NOW shares. Citigroup raised their price target on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, JMP Securities lifted their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Trading Up 2.0 %

NYSE NOW opened at $937.36 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $192.16 billion, a PE ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $940.12. The firm’s fifty day moving average is $822.56 and its two-hundred day moving average is $771.23.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. Analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated 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 sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 value of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow 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.