ServiceNow, Inc. $NOW Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 23.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,272 shares of the information technology services provider’s stock after selling 680 shares during the quarter. Logan Capital Management Inc.’s holdings in ServiceNow were worth $2,336,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NOW. Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the first quarter valued at about $26,000. WASHINGTON TRUST Co boosted 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 purchasing an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the second quarter valued at about $30,000. Finally, LGT Financial Advisors LLC purchased a new position in ServiceNow in the second quarter valued at about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Wall Street Zen raised ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Needham & Company LLC increased 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. Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Finally, Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $1,040.00 to $1,250.00 in a report on Wednesday, September 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 stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 17,980 shares of company stock worth $16,049,017. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $939.50 on Wednesday. The firm has a market cap of $195.42 billion, a price-to-earnings ratio of 118.33, a PEG ratio of 4.27 and a beta of 0.92. The stock has a 50 day moving average of $920.02 and a 200-day moving average of $945.20. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow Company 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.