ServiceNow, Inc. (NYSE:NOW) Holdings Boosted by Dearborn Partners LLC

Dearborn Partners LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 499 shares of the information technology services provider’s stock after buying an additional 88 shares during the quarter. Dearborn Partners LLC’s holdings in ServiceNow were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Riverpark Capital Management LLC grew its holdings in shares of ServiceNow by 6.2% during the 2nd quarter. Riverpark Capital Management LLC now owns 2,496 shares of the information technology services provider’s stock valued at $1,964,000 after acquiring an additional 145 shares in the last quarter. Saxony Capital Management LLC grew its stake in ServiceNow by 8.6% in the second quarter. Saxony Capital Management LLC now owns 570 shares of the information technology services provider’s stock valued at $448,000 after purchasing an additional 45 shares in the last quarter. Liontrust Investment Partners LLP increased its position in ServiceNow by 605.7% in the 2nd quarter. Liontrust Investment Partners LLP now owns 134,076 shares of the information technology services provider’s stock worth $105,474,000 after purchasing an additional 115,076 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 5.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,135 shares of the information technology services provider’s stock valued at $893,000 after buying an additional 62 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock traded up $4.14 during trading hours on Tuesday, hitting $832.00. 185,428 shares of the stock were exchanged, compared to its average volume of 1,291,558. The stock has a market capitalization of $170.56 billion, a P/E ratio of 88.54, a P/E/G ratio of 4.82 and a beta of 0.99. The business’s 50-day moving average is $784.05 and its two-hundred day moving average is $759.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.61 billion. During the same period in the prior year, the company earned $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. BMO Capital Markets boosted their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. KeyCorp lowered their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wolfe Research reissued an “outperform” rating and issued a $830.00 price target on shares of ServiceNow in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $849.62.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,272 shares of company stock worth $5,600,700. Insiders own 0.25% of the company’s stock.

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.