Brighton Jones LLC Buys 628 Shares of ServiceNow, Inc. $NOW

Brighton Jones LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,342 shares of the information technology services provider’s stock after acquiring an additional 628 shares during the quarter. Brighton Jones LLC’s holdings in ServiceNow were worth $3,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Linden Thomas Advisory Services LLC raised its holdings in ServiceNow by 1.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 5,423 shares of the information technology services provider’s stock valued at $5,575,000 after acquiring an additional 70 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in ServiceNow by 5.8% during the second quarter. Kornitzer Capital Management Inc. KS now owns 3,870 shares of the information technology services provider’s stock valued at $3,979,000 after acquiring an additional 213 shares during the period. Shaker Investments LLC OH raised its holdings in ServiceNow by 6.3% during the second quarter. Shaker Investments LLC OH now owns 3,748 shares of the information technology services provider’s stock valued at $3,853,000 after acquiring an additional 222 shares during the period. CVA Family Office LLC raised its holdings in ServiceNow by 3.1% during the second quarter. CVA Family Office LLC now owns 603 shares of the information technology services provider’s stock valued at $620,000 after acquiring an additional 18 shares during the period. Finally, Rational Advisors Inc. bought a new stake in ServiceNow during the second quarter valued at about $5,214,000. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of ServiceNow in a report on Friday. Oppenheimer reissued an “outperform” rating and set a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a report on Thursday, July 24th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Finally, Needham & Company LLC lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,124.17.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated 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 completion of the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% 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 valued at $16,798,825 in the last quarter. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Down 1.0%

Shares of NOW stock opened at $929.77 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $917.85 and its 200-day moving average price is $942.45. The stock has a market capitalization of $193.39 billion, a price-to-earnings ratio of 117.10, a price-to-earnings-growth ratio of 4.19 and a beta of 0.92.

ServiceNow (NYSE:NOW) last released 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. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $3.13 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.