Ballentine Partners LLC Acquires 263 Shares of ServiceNow, Inc. (NYSE:NOW)

Ballentine Partners LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,624 shares of the information technology services provider’s stock after buying an additional 263 shares during the period. Ballentine Partners LLC’s holdings in ServiceNow were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NOW. Argonautica Private Wealth Management Inc. raised its holdings in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares in the last quarter. Wealth Management Partners LLC grew its stake in shares of ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after buying an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Trust Co. of Vermont raised its position in shares of ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 15 shares in the last quarter. Finally, Claro Advisors LLC increased its stake in ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOW shares. KeyCorp dropped their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. BMO Capital Markets cut their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Robert W. Baird upped their price target on shares of ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $814.48.

ServiceNow Stock Down 1.5 %

Shares of NYSE:NOW traded down $10.90 on Monday, reaching $738.43. The company had a trading volume of 51,907 shares, compared to its average volume of 1,277,179. The firm has a market capitalization of $151.38 billion, a PE ratio of 80.14, a PEG ratio of 4.60 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The firm’s 50 day simple moving average is $723.59 and its 200-day simple moving average is $739.22.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. As a group, analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 over the last 90 days. Insiders own 0.25% of the company’s stock.

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.