23,071 Shares in ServiceNow, Inc. $NOW Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,071 shares of the information technology services provider’s stock, valued at approximately $2,291,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its position in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares during the last quarter. United Bank grew its stake in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares during the period. Riggs Asset Managment Co. Inc. grew its stake in shares of ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after buying an additional 42 shares during the period. Finally, Nebula Research & Development LLC increased its holdings in shares of ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. BTIG Research reaffirmed a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research report on Wednesday, July 22nd. Stifel Nicolaus lowered their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research note on Friday, July 17th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, CLSA assumed coverage on ServiceNow in a research note on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.76.

ServiceNow Stock Down 2.5%

Shares of ServiceNow stock opened at $124.08 on Friday. The company has a fifty day moving average price of $107.08 and a 200 day moving average price of $105.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The stock has a market cap of $128.29 billion, a price-to-earnings ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.34% of the stock is owned by insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.