Chicago Partners Investment Group LLC Purchases 57 Shares of ServiceNow, Inc. $NOW

Chicago Partners Investment Group LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 883 shares of the information technology services provider’s stock after buying an additional 57 shares during the period. Chicago Partners Investment Group LLC’s holdings in ServiceNow were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC boosted its stake in ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after purchasing an additional 308 shares during the period. Flagship Harbor Advisors LLC boosted its stake in ServiceNow by 35.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,223 shares of the information technology services provider’s stock valued at $1,770,000 after purchasing an additional 577 shares during the period. Oppenheimer & Co. Inc. grew its holdings in ServiceNow by 21.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,342 shares of the information technology services provider’s stock valued at $5,845,000 after buying an additional 1,291 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in ServiceNow by 4.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 104,192 shares of the information technology services provider’s stock worth $82,951,000 after buying an additional 4,417 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 1,452 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at $409,037.85. The trade was a 76.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction 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 owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $942.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50-day simple moving average is $913.34 and its 200-day simple moving average is $938.13. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market cap of $196.05 billion, a P/E ratio of 118.71, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating 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 analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the firm posted $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NOW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. Needham & Company LLC upped their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Bank of America increased their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upped their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.