Appleton Partners Inc. MA Grows Position in ServiceNow, Inc. $NOW

Appleton Partners Inc. MA grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 814.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,321 shares of the information technology services provider’s stock after purchasing an additional 10,083 shares during the quarter. Appleton Partners Inc. MA’s holdings in ServiceNow were worth $11,639,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NOW. Haverford Trust Co boosted its holdings in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after acquiring an additional 10 shares in the last quarter. Ascent Group LLC boosted its holdings in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its holdings in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after acquiring an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NOW shares. BMO Capital Markets lifted their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research report on Saturday, September 27th. 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. Mizuho raised their price objective on 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, Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated 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 owned 3,000 shares of the company’s stock, valued at $2,599,350. The trade was a 36.43% 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 in the last three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Price Performance

NOW opened at $911.75 on Monday. The stock has a 50-day moving average price of $914.67 and a 200-day moving average price of $930.67. 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 firm has a market cap 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, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the company earned $3.13 EPS. ServiceNow’s revenue for the quarter was up 22.4% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.