ServiceNow, Inc. $NOW Shares Bought by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 28.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125 shares of the information technology services provider’s stock after acquiring an additional 28 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in ServiceNow were worth $129,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. purchased a new position in ServiceNow in the second quarter worth $30,000. Bogart Wealth LLC raised its position in ServiceNow by 113.3% in the first 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. purchased a new position in ServiceNow in the first quarter worth $26,000. WASHINGTON TRUST Co raised its position in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Dagco Inc. purchased a new position in ServiceNow in the first quarter worth $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.2%

ServiceNow stock opened at $911.75 on Friday. The stock 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. The stock has a 50-day moving average price of $914.67 and a 200 day moving average price of $929.93. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 EPS. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’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 $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $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 quarter. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NOW shares. Needham & Company LLC raised their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Citigroup raised their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial raised their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

About ServiceNow

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.