ServiceNow Inc (NYSE:NOW) Shares Purchased by Gradient Investments LLC

Gradient Investments LLC boosted its holdings in ServiceNow Inc (NYSE:NOW) by 53,900.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,320 shares of the information technology services provider’s stock after acquiring an additional 4,312 shares during the period. Gradient Investments LLC’s holdings in ServiceNow were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV grew its stake in ServiceNow by 275.3% in the 2nd quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock valued at $23,929,000 after acquiring an additional 63,929 shares during the last quarter. Menta Capital LLC acquired a new stake in ServiceNow in the 2nd quarter valued at about $223,000. Institute for Wealth Management LLC. grew its stake in ServiceNow by 10.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock valued at $837,000 after acquiring an additional 292 shares during the last quarter. Marshall Wace LLP acquired a new stake in ServiceNow in the 1st quarter valued at about $724,000. Finally, Arcadia Investment Management Corp MI grew its stake in ServiceNow by 219.5% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock valued at $741,000 after acquiring an additional 1,855 shares during the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

NOW has been the topic of a number of research reports. Credit Suisse Group increased their price objective on shares of ServiceNow from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group increased their price objective on shares of ServiceNow to $332.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BTIG Research reissued a “buy” rating and issued a $320.00 price objective on shares of ServiceNow in a research note on Thursday, July 25th. Cleveland Research initiated coverage on shares of ServiceNow in a research note on Monday, June 17th. They set a “buy” rating on the stock. Finally, Canaccord Genuity raised their price target on shares of ServiceNow from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $293.30.

In other news, insider Fay Sien Goon sold 408 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $258.36, for a total transaction of $105,410.88. Following the transaction, the insider now directly owns 41,777 shares in the company, valued at approximately $10,793,505.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 31,183 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the transaction, the chief financial officer now owns 36,200 shares in the company, valued at $9,419,964. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,035 shares of company stock worth $17,867,992. Insiders own 1.00% of the company’s stock.

Shares of NOW stock opened at $270.33 on Friday. The firm has a market cap of $49.13 billion, a P/E ratio of 1,191.00, a PEG ratio of 22.28 and a beta of 1.31. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $303.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 1.10. The firm’s 50-day simple moving average is $260.77 and its 200-day simple moving average is $266.19.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The company’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. Analysts expect that ServiceNow Inc will post 0.42 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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