Beaumont Asset Management L.L.C. Has $3.02 Million Stock Position in ServiceNow, Inc. $NOW

Beaumont Asset Management L.L.C. lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,936 shares of the information technology services provider’s stock after selling 131 shares during the quarter. ServiceNow makes up approximately 1.6% of Beaumont Asset Management L.L.C.’s investment portfolio, making the stock its 12th largest position. Beaumont Asset Management L.L.C.’s holdings in ServiceNow were worth $3,018,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOW. Bogart Wealth LLC increased its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the first quarter worth approximately $26,000. WASHINGTON TRUST Co boosted its holdings in shares of ServiceNow by 620.0% during 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 during the period. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow during the second quarter worth approximately $30,000. Finally, Dagco Inc. bought a new stake in shares of ServiceNow during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $914.15 on Thursday. The company has a market capitalization of $190.14 billion, a price-to-earnings ratio of 115.13, a PEG ratio of 4.07 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a fifty day simple moving average of $910.23 and a 200 day simple moving average of $930.97. The company has a quick ratio of 1.09, a current 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.13 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOW. Wells Fargo & Company boosted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Piper Sandler boosted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

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.