Evanson Financial LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,256 shares of the information technology services provider’s stock, valued at approximately $423,000.
Several other large investors have also modified their holdings of the stock. Covenant Asset Management LLC increased its position in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after acquiring an additional 13,114 shares during the period. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $2,020,992,000. World Investment Advisors grew its stake in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after purchasing an additional 2,064,440 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.
Insiders Place Their Bets
In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 18,993 shares of company stock worth $1,716,436. Corporate insiders own 0.34% of the company’s stock.
ServiceNow Stock Up 6.4%
ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Robert W. Baird increased their price target on ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Mizuho lowered their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Wednesday, July 22nd. Canaccord Genuity Group cut their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, FBN Securities reduced their target price on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $143.39.
Read Our Latest Stock Analysis on NOW
About ServiceNow
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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