J.Safra Asset Management Corp Raises Holdings in ServiceNow, Inc. $NOW

J.Safra Asset Management Corp lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 19.2% during the second quarter, Holdings Channel.com reports. The fund owned 564 shares of the information technology services provider’s stock after acquiring an additional 91 shares during the period. J.Safra Asset Management Corp’s holdings in ServiceNow were worth $577,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NOW. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth about $26,000. WASHINGTON TRUST Co lifted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the second quarter valued at approximately $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 3.9%

Shares of NOW opened at $923.44 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a market capitalization of $192.07 billion, a price-to-earnings ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92. The stock has a 50 day moving average price of $909.24 and a 200 day moving average price of $933.88.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the business earned $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, July 24th. UBS Group set a $1,075.00 price target on ServiceNow and gave the company a “buy” rating in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

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.