Leelyn Smith LLC Has $2.69 Million Stock Holdings in ServiceNow, Inc. $NOW

Leelyn Smith LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,618 shares of the information technology services provider’s stock after buying an additional 73 shares during the quarter. Leelyn Smith LLC’s holdings in ServiceNow were worth $2,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter worth $26,000. WASHINGTON TRUST Co boosted its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow in the 2nd quarter worth $30,000. Finally, LGT Financial Advisors LLC bought a new position in shares of ServiceNow in the second quarter worth about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $929.77 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $193.39 billion, a PE ratio of 117.10, a P/E/G ratio of 4.23 and a beta of 0.92. The company has a fifty day moving average of $917.85 and a two-hundred day moving average of $940.95.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $3.13 EPS. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’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 transaction of $1,353,394.90. Following the completion of the sale, the insider owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. This trade represents a 34.04% 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 worth $16,798,825 over the last three months. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOW shares. Piper Sandler boosted their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group cut their target price on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. DA Davidson increased their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Barclays set a $1,210.00 target price on ServiceNow in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,124.17.

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.