ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 24.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,847 shares of the information technology services provider’s stock after buying an additional 365 shares during the period. Lake Street Advisors Group LLC’s holdings in ServiceNow were worth $1,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter valued at $32,000. Finally, DT Investment Partners LLC lifted its stake in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s 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 completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NOW. Sanford C. Bernstein upped their target price on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $900.00 to $960.00 in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Price Performance

Shares of NYSE NOW traded up $4.12 during mid-day trading on Friday, reaching $960.70. 280,490 shares of the company were exchanged, compared to its average volume of 1,280,686. ServiceNow, Inc. has a 52 week low of $548.44 and a 52 week high of $979.78. 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 stock has a market capitalization of $197.90 billion, a PE ratio of 172.95, a PEG ratio of 5.04 and a beta of 0.99. The company’s 50 day moving average price is $880.60 and its 200 day moving average price is $795.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 7.41 earnings per share for the current fiscal year.

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.