ServiceNow, Inc. $NOW Shares Purchased by Leelyn Smith LLC

Leelyn Smith LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,618 shares of the information technology services provider’s stock after acquiring an additional 73 shares during the quarter. Leelyn Smith LLC’s holdings in ServiceNow were worth $2,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the 2nd quarter valued at about $30,000. Finally, LGT Financial Advisors LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOW shares. UBS Group reduced their price target on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Morgan Stanley raised shares of ServiceNow from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC upped their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

Insider Buying and Selling at ServiceNow

In other 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 transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction 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 represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NOW opened at $929.77 on Friday. The company’s 50 day simple moving average is $917.85 and its 200 day simple moving average is $940.95. 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 market capitalization of $193.39 billion, a PE ratio of 117.10, a P/E/G ratio of 4.23 and a beta of 0.92.

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