Beaton Management Co. Inc. Has $806,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Beaton Management Co. Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025 shares of the information technology services provider’s stock after acquiring an additional 30 shares during the quarter. Beaton Management Co. Inc.’s holdings in ServiceNow were worth $806,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bridges Investment Management Inc. boosted its holdings in ServiceNow by 66.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 77,136 shares of the information technology services provider’s stock valued at $60,681,000 after purchasing an additional 30,848 shares during the period. Canada Pension Plan Investment Board grew its holdings in ServiceNow by 59.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock worth $500,258,000 after acquiring an additional 237,086 shares during the last quarter. Davidson Capital Management Inc. grew its position in shares of ServiceNow by 6.6% in the 2nd quarter. Davidson Capital Management Inc. now owns 4,240 shares of the information technology services provider’s stock valued at $3,335,000 after buying an additional 261 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of ServiceNow by 24.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,569 shares of the information technology services provider’s stock worth $7,528,000 after buying an additional 1,893 shares during the period. Finally, Brighton Jones LLC increased its holdings in ServiceNow by 0.7% in the second quarter. Brighton Jones LLC now owns 2,959 shares of the information technology services provider’s stock worth $2,328,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. KeyCorp cut their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Trading Up 3.2 %

Shares of ServiceNow stock opened at $919.25 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $921.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50-day simple moving average of $818.98 and a two-hundred day simple moving average of $770.11. The company has a market cap of $188.45 billion, a P/E ratio of 98.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal 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.