Anchor Investment Management LLC Increases Holdings in ServiceNow, Inc. $NOW

Anchor Investment Management LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,190 shares of the information technology services provider’s stock after buying an additional 35 shares during the period. Anchor Investment Management LLC’s holdings in ServiceNow were worth $947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Obermeyer Wealth Partners boosted its position in ServiceNow by 13.7% in the fourth quarter. Obermeyer Wealth Partners now owns 340 shares of the information technology services provider’s stock worth $360,000 after purchasing an additional 41 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in ServiceNow in the fourth quarter worth about $464,000. Nuveen Asset Management LLC boosted its position in ServiceNow by 4.9% in the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider’s stock worth $2,484,752,000 after purchasing an additional 109,293 shares during the last quarter. Finally, NorthRock Partners LLC grew its position in shares of ServiceNow by 181.4% during the 4th quarter. NorthRock Partners LLC now owns 1,894 shares of the information technology services provider’s stock valued at $2,008,000 after acquiring an additional 1,221 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial boosted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Finally, Citigroup boosted their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’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 transaction of $1,353,394.90. Following the completion of the sale, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. The trade was a 34.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 0.9%

Shares of NOW stock opened at $924.89 on Thursday. The stock has a market cap of $192.38 billion, a P/E ratio of 116.49, a PEG ratio of 4.21 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $931.78 and its two-hundred day simple moving average is $922.31.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.13 EPS. 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.