ServiceNow, Inc. (NYSE:NOW) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 28.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,241 shares of the information technology services provider’s stock after acquiring an additional 724 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in ServiceNow were worth $2,549,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sepio Capital LP lifted its holdings in shares of ServiceNow by 7.8% in the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after buying an additional 85 shares during the period. Fiera Capital Corp lifted its holdings in ServiceNow by 0.8% in the fourth quarter. Fiera Capital Corp now owns 3,007 shares of the information technology services provider’s stock valued at $2,124,000 after acquiring an additional 24 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of ServiceNow by 4.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,390 shares of the information technology services provider’s stock worth $1,688,000 after purchasing an additional 98 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of ServiceNow by 7.0% during the 4th quarter. Great Lakes Advisors LLC now owns 954 shares of the information technology services provider’s stock worth $674,000 after purchasing an additional 62 shares during the period. Finally, Financial Advocates Investment Management increased its holdings in shares of ServiceNow by 3.8% in the 4th quarter. Financial Advocates Investment Management now owns 470 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 17 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $878.95 on Friday. The company has a market cap of $181.06 billion, a P/E ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98. The firm’s 50 day moving average is $807.22 and its two-hundred day moving average is $766.50. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $889.52. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current 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.