Bahl & Gaynor Inc. Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Bahl & Gaynor Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 71.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 806 shares of the information technology services provider’s stock after buying an additional 337 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ServiceNow were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Disciplined Equity Management Inc. purchased a new stake in ServiceNow in the 4th quarter worth approximately $35,000. Sachetta LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $35,000. Finally, PFG Private Wealth Management LLC purchased a new stake in ServiceNow during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.7 %

NOW traded down $20.87 on Wednesday, hitting $744.65. The company had a trading volume of 722,997 shares, compared to its average volume of 1,278,106. The stock has a fifty day moving average price of $741.96 and a 200-day moving average price of $749.60. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $152.65 billion, a price-to-earnings ratio of 79.13, a P/E/G ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Tuesday, July 2nd. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of ServiceNow in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $818.20.

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.