Brighton Jones LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Brighton Jones LLC grew its stake in ServiceNow, Inc. (NYSE:NOWGet Rating) by 48.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,240 shares of the information technology services provider’s stock after acquiring an additional 402 shares during the period. Brighton Jones LLC’s holdings in ServiceNow were worth $691,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $28,000. Delos Wealth Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $40,000. San Luis Wealth Advisors LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $49,000. Finally, GoalVest Advisory LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $43,000. 87.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NOW shares. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Royal Bank of Canada dropped their price objective on shares of ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective for the company. Truist Financial lowered their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Citigroup lowered their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.84.

Insider Activity

In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares in the company, valued at approximately $16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the sale, the general counsel now directly owns 9,293 shares in the company, valued at $4,079,534.07. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock worth $14,019,372 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.5 %

Shares of ServiceNow stock opened at $450.77 on Friday. The company has a market cap of $91.06 billion, a P/E ratio of 495.35, a PEG ratio of 8.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a one year low of $406.47 and a one year high of $707.60. The firm has a fifty day moving average of $462.31 and a two-hundred day moving average of $488.02.

ServiceNow (NYSE:NOWGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. ServiceNow’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, analysts forecast that ServiceNow, Inc. will post 1.72 earnings per share for the current year.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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