Brookstone Capital Management Grows Position in ServiceNow, Inc. $NOW

Brookstone Capital Management increased its stake in ServiceNow, Inc. (NYSE:NOW) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,637 shares of the information technology services provider’s stock after buying an additional 190 shares during the quarter. Brookstone Capital Management’s holdings in ServiceNow were worth $16,076,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in ServiceNow during the 1st quarter valued at approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the period. Parnassus Investments LLC acquired a new position in ServiceNow during the 1st quarter valued at approximately $519,806,000. Finally, Amundi boosted its position in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 2.7%

Shares of ServiceNow stock opened at $942.56 on Wednesday. The stock’s fifty day moving average is $913.34 and its 200-day moving average is $938.13. The firm has a market capitalization of $196.05 billion, a PE ratio of 118.71, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

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, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities 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 ServiceNow stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction on 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 owned 12,228 shares in the company, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. DA Davidson boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Citigroup lifted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Zacks Research raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Guggenheim reissued a “sell” rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,121.37.

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.