ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its position in ServiceNow, Inc. (NYSE:NOW) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,466 shares of the information technology services provider’s stock after acquiring an additional 957 shares during the quarter. Brookstone Capital Management’s holdings in ServiceNow were worth $8,742,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NOW. Norges Bank acquired a new position in ServiceNow in the 4th quarter valued at about $1,648,259,000. International Assets Investment Management LLC grew its position in ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at about $403,034,000. Cerity Partners LLC boosted its stake in shares of ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after buying an additional 371,648 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,530 shares of company stock valued at $3,997,012. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Citigroup lifted their price objective on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, UBS Group decreased their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $814.48.

ServiceNow Trading Up 2.7 %

NYSE:NOW opened at $774.13 on Friday. The firm has a market cap of $158.70 billion, a P/E ratio of 82.79, a PEG ratio of 4.73 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. The stock’s 50 day simple moving average is $724.24 and its 200-day simple moving average is $740.08. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The business 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%. Equities analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

About ServiceNow

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.