Private Client Services LLC Buys 330 Shares of ServiceNow, Inc. (NYSE:NOW)

Private Client Services LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.9% in the third quarter, Holdings Channel reports. The fund owned 2,286 shares of the information technology services provider’s stock after acquiring an additional 330 shares during the quarter. ServiceNow accounts for about 1.1% of Private Client Services LLC’s portfolio, making the stock its 25th largest position. Private Client Services LLC’s holdings in ServiceNow were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after acquiring an additional 271,153 shares during the period. Bank of New York Mellon Corp grew its position in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the period. Fisher Asset Management LLC grew its position in shares of ServiceNow by 7.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after acquiring an additional 101,485 shares during the period. Finally, Swedbank AB grew its position in shares of ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares during the period. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $890.62 on Friday. The firm’s fifty day moving average price is $846.64 and its 200-day moving average price is $779.47. 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 stock has a market cap of $182.58 billion, a P/E ratio of 95.25, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $945.46.

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

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.