Johnson Investment Counsel Inc. Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Johnson Investment Counsel Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,027 shares of the information technology services provider’s stock after purchasing an additional 355 shares during the period. Johnson Investment Counsel Inc.’s holdings in ServiceNow were worth $6,315,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NOW. Morling Financial Advisors LLC boosted its position in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. Optas LLC boosted its position in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares during the period. Cedar Wealth Management LLC boosted its position in shares of ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the period. Financial Advocates Investment Management boosted its position in shares of ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 14 shares during the period. Finally, Ndwm LLC boosted its position in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after acquiring an additional 14 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,914 shares of company stock worth $5,608,936. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday. Wells Fargo & Company boosted their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler boosted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Stock Performance

ServiceNow stock opened at $886.11 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $182.54 billion, a P/E ratio of 94.77, a PEG ratio of 5.25 and a beta of 0.98. The stock’s 50 day moving average is $805.77 and its 200 day moving average is $765.81. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $889.52.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.77 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.