Commonwealth Equity Services LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Commonwealth Equity Services LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 52,343 shares of the information technology services provider’s stock after acquiring an additional 139 shares during the period. Commonwealth Equity Services LLC’s holdings in ServiceNow were worth $46,815,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in ServiceNow by 3.1% during the first quarter. International Assets Investment Management LLC now owns 1,199 shares of the information technology services provider’s stock valued at $921,000 after purchasing an additional 36 shares in the last quarter. CHICAGO TRUST Co NA raised its position in shares of ServiceNow by 44.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 618 shares of the information technology services provider’s stock valued at $471,000 after buying an additional 190 shares in the last quarter. Traynor Capital Management Inc. grew its position in ServiceNow by 7.9% in the first quarter. Traynor Capital Management Inc. now owns 327 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 24 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in ServiceNow by 161.7% during the first quarter. Harbor Investment Advisory LLC now owns 1,696 shares of the information technology services provider’s stock worth $1,293,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Austin Private Wealth LLC increased its stake in ServiceNow by 14.0% during the first quarter. Austin Private Wealth LLC now owns 611 shares of the information technology services provider’s stock worth $464,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NOW. Oppenheimer lifted their target price on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI increased their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $914.15.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the 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 completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,267 shares of company stock worth $5,935,447 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.5 %

Shares of NYSE:NOW opened at $921.75 on Monday. The company has a market capitalization of $188.96 billion, a PE ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.59. The business’s fifty day simple moving average is $874.61 and its 200-day simple moving average is $792.22.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, equities research analysts predict 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.