Brookstone Capital Management Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Brookstone Capital Management grew its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,690 shares of the information technology services provider’s stock after buying an additional 82 shares during the period. Brookstone Capital Management’s holdings in ServiceNow were worth $835,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hilltop Holdings Inc. raised its holdings in shares of ServiceNow by 4.4% in the 4th quarter. Hilltop Holdings Inc. now owns 566 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 24 shares during the period. Mutual Advisors LLC raised its holdings in shares of ServiceNow by 19.3% in the 4th quarter. Mutual Advisors LLC now owns 1,576 shares of the information technology services provider’s stock valued at $1,023,000 after buying an additional 255 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of ServiceNow by 11.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after buying an additional 305,908 shares during the period. ETF Managers Group LLC raised its holdings in shares of ServiceNow by 4.8% in the 4th quarter. ETF Managers Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $892,000 after buying an additional 63 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of ServiceNow in the 4th quarter valued at $239,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 2,666 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the transaction, the general counsel now directly owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now directly owns 9,293 shares of the company’s stock, valued at $4,079,534.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 2,666 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now owns 6,627 shares in the company, valued at $2,801,895.60. The disclosure for this sale can be found here. In the last three months, insiders sold 32,922 shares of company stock valued at $15,146,557. Corporate insiders own 0.28% of the company’s stock.

ServiceNow Stock Down 3.6 %

ServiceNow stock opened at $386.97 on Friday. ServiceNow, Inc. has a twelve month low of $386.70 and a twelve month high of $707.60. The stock has a 50 day moving average of $454.93 and a two-hundred day moving average of $479.32. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $78.17 billion, a price-to-earnings ratio of 425.24, a PEG ratio of 8.37 and a beta of 0.94.

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

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Moffett Nathanson initiated coverage on ServiceNow in a report on Thursday. They set a “hold” rating and a $553.00 price target on the stock. Guggenheim initiated coverage on ServiceNow in a report on Friday, August 12th. They set a “neutral” rating and a $510.00 price target on the stock. Truist Financial cut their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Royal Bank of Canada cut their price target on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Finally, KeyCorp cut their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $593.29.

About ServiceNow

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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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