Jackson Thornton Wealth Management LLC Takes $248,000 Position in ServiceNow, Inc. $NOW

Jackson Thornton Wealth Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 242 shares of the information technology services provider’s stock, valued at approximately $248,000.

Several other institutional investors have also modified their holdings of NOW. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% during 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. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth $30,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of ServiceNow during the second quarter worth $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.6%

Shares of ServiceNow stock opened at $918.17 on Tuesday. The stock has a 50-day moving average price of $911.55 and a 200 day moving average price of $938.10. The company has a market cap of $190.98 billion, a P/E ratio of 115.64, a P/E/G ratio of 4.07 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the business earned $3.13 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,737 shares of company stock worth $16,798,825. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Barclays set a $1,210.00 target price on ServiceNow in a research report on Thursday, July 24th. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, UBS Group dropped their price target on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Two research analysts have 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,121.37.

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.