Brown Shipley& Co Ltd Has $8.60 Million Position in ServiceNow, Inc. $NOW

Brown Shipley& Co Ltd trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,361 shares of the information technology services provider’s stock after selling 528 shares during the quarter. ServiceNow comprises 4.7% of Brown Shipley& Co Ltd’s portfolio, making the stock its 6th biggest holding. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $8,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new stake in ServiceNow in the second quarter worth about $30,000. Bogart Wealth LLC increased its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the first quarter worth about $26,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the period. Finally, Dagco Inc. acquired a new stake in ServiceNow in the first quarter worth about $33,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Raymond James Financial lifted their price objective 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. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Jefferies Financial Group boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Trading Down 2.2%

NYSE:NOW opened at $920.51 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $191.47 billion, a PE ratio of 115.93, a price-to-earnings-growth ratio of 4.24 and a beta of 0.91. The business’s 50-day simple moving average is $918.47 and its 200-day simple moving average is $928.42.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating 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 business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business posted $3.13 EPS. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were 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 owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company’s stock.

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.