Talbot Financial LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Talbot Financial LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,449 shares of the information technology services provider’s stock after purchasing an additional 2,676 shares during the period. Talbot Financial LLC’s holdings in ServiceNow were worth $14,855,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC lifted its position in shares of ServiceNow by 4.8% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,626 shares of the information technology services provider’s stock worth $1,671,000 after purchasing an additional 75 shares during the last quarter. Willner & Heller LLC lifted its position in shares of ServiceNow by 83.9% during the 2nd quarter. Willner & Heller LLC now owns 662 shares of the information technology services provider’s stock worth $681,000 after purchasing an additional 302 shares during the last quarter. Sava Infond d.o.o. lifted its position in shares of ServiceNow by 10.1% during the 2nd quarter. Sava Infond d.o.o. now owns 28,010 shares of the information technology services provider’s stock worth $28,797,000 after purchasing an additional 2,570 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in ServiceNow in the second quarter valued at $5,633,000. Finally, Quent Capital LLC lifted its position in ServiceNow by 5.7% in the second quarter. Quent Capital LLC now owns 982 shares of the information technology services provider’s stock valued at $1,010,000 after acquiring an additional 53 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.2%

Shares of ServiceNow stock opened at $911.75 on Friday. 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 50-day simple moving average is $914.67 and its 200-day simple moving average is $929.93. The firm has a market cap of $189.64 billion, a price-to-earnings ratio of 114.83, a price-to-earnings-growth ratio of 4.11 and a beta of 0.92.

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

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOW. UBS Group reduced their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Jefferies Financial Group boosted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Needham & Company LLC boosted their price target 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty 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, ServiceNow 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.