ServiceNow, Inc. $NOW Shares Purchased by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 28.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125 shares of the information technology services provider’s stock after purchasing an additional 28 shares during the period. Bay Harbor Wealth Management LLC’s holdings in ServiceNow were worth $129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $30,000. Bogart Wealth LLC lifted its stake in shares of 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 in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co lifted its stake in shares of 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 in the last quarter. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the 1st quarter valued at about $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last ninety days. Company insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $911.75 on Friday. 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, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock’s 50 day moving average is $914.67 and its two-hundred day moving average is $929.93. The company has a market capitalization of $189.64 billion, a PE ratio of 114.83, a P/E/G ratio of 4.11 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. FBN Securities raised ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. Raymond James Financial boosted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. UBS Group reduced their price target on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

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.