Jackson Thornton Wealth Management LLC Makes New $248,000 Investment in ServiceNow, Inc. $NOW

Jackson Thornton Wealth Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent filing with the SEC. The fund purchased 242 shares of the information technology services provider’s stock, valued at approximately $248,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after acquiring an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after acquiring an additional 188,292 shares during the last quarter. Nuveen LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $1,817,535,000. Alliancebernstein L.P. increased its holdings in shares of ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after acquiring an additional 242,132 shares during the last quarter. Finally, Amundi increased its holdings in shares of ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 1.6%

Shares of NOW stock opened at $918.17 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 1 year low of $678.66 and a 1 year high of $1,198.09. The stock has a fifty day moving average of $911.55 and a two-hundred day moving average of $938.10. The firm has a market capitalization of $190.98 billion, a PE ratio of 115.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.92.

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

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. 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. Raymond James Financial boosted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. UBS Group reduced their price objective on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, Guggenheim restated a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,121.37.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.