ServiceNow, Inc. $NOW Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.7% during the 1st quarter, Holdings Channel reports. The firm owned 97,229 shares of the information technology services provider’s stock after purchasing an additional 6,071 shares during the quarter. Brookstone Capital Management’s holdings in ServiceNow were worth $10,165,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOW. Vanguard Group Inc. lifted its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp increased its position in ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after buying an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after buying an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last three months. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Argus decreased their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. BTIG Research reissued a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Barclays restated an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

ServiceNow Stock Performance

NYSE NOW opened at $92.96 on Tuesday. The business’s 50-day moving average price is $99.62 and its 200 day moving average price is $116.97. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a market capitalization of $95.84 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. On average, research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.