Janney Montgomery Scott LLC Grows Holdings in ServiceNow, Inc. $NOW

Janney Montgomery Scott LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 8.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 61,207 shares of the information technology services provider’s stock after purchasing an additional 4,841 shares during the period. Janney Montgomery Scott LLC’s holdings in ServiceNow were worth $62,926,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in ServiceNow during the first quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after purchasing an additional 877,875 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares during the last quarter. Parnassus Investments LLC bought a new position in ServiceNow during the first quarter valued at about $519,806,000. Finally, Amundi increased its holdings in ServiceNow by 61.9% during the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after buying an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction on 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 directly owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 1,762 shares of the 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 completion of the sale, the chief financial officer owned 12,228 shares in the company, 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. Over the last 90 days, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.2%

NOW stock opened at $920.51 on Wednesday. The stock has a 50-day simple moving average of $918.47 and a two-hundred day simple moving average of $928.42. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $191.47 billion, a PE ratio of 115.93, a PEG ratio of 4.24 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 22.4% compared to the same quarter last year. During the same period last year, the business earned $3.13 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group dropped their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

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.