ServiceNow, Inc. $NOW Shares Bought by Gradient Investments LLC

Gradient Investments LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 39.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 259,557 shares of the information technology services provider’s stock after purchasing an additional 74,064 shares during the quarter. Gradient Investments LLC’s holdings in ServiceNow were worth $25,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Atwood & Palmer Inc. boosted its holdings in shares of ServiceNow by 20.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in shares of ServiceNow by 74.7% during the second quarter. First Heartland Consultants Inc. now owns 6,240 shares of the information technology services provider’s stock worth $620,000 after purchasing an additional 2,668 shares during the last quarter. Teamwork Financial Advisors LLC raised its holdings in shares of ServiceNow by 389.2% during the second quarter. Teamwork Financial Advisors LLC now owns 154,649 shares of the information technology services provider’s stock worth $15,354,000 after purchasing an additional 123,035 shares during the last quarter. Sonoma Allocations LLC lifted its position in ServiceNow by 23.8% during the second quarter. Sonoma Allocations LLC now owns 3,875 shares of the information technology services provider’s stock valued at $409,000 after purchasing an additional 746 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in ServiceNow by 664.0% during the second quarter. FNY Investment Advisers LLC now owns 1,146 shares of the information technology services provider’s stock valued at $113,000 after purchasing an additional 996 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,993 shares of company stock worth $1,716,436 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Argus reduced their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, April 24th. HSBC decreased their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Citigroup restated a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Weiss Ratings lowered ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Stock Up 6.4%

NOW opened at $124.91 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average of $106.73 and a two-hundred day moving average of $105.86. The stock has a market capitalization of $129.16 billion, a price-to-earnings ratio of 78.07, a PEG ratio of 2.06 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued 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. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The company’s revenue was up 24.0% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

ServiceNow Profile

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.