ServiceNow Inc (NYSE:NOW) Stock Position Raised by Family Management Corp

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Family Management Corp lifted its holdings in shares of ServiceNow Inc (NYSE:NOW) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,496 shares of the information technology services provider’s stock after buying an additional 131 shares during the period. ServiceNow accounts for approximately 1.1% of Family Management Corp’s holdings, making the stock its 29th biggest position. Family Management Corp’s holdings in ServiceNow were worth $2,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cornerstone Advisors Inc. grew its position in ServiceNow by 3.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,212 shares of the information technology services provider’s stock worth $333,000 after purchasing an additional 42 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of ServiceNow by 2.0% in the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock worth $654,000 after acquiring an additional 53 shares during the period. Bbva USA Bancshares Inc. lifted its stake in shares of ServiceNow by 1.6% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 3,286 shares of the information technology services provider’s stock worth $902,000 after acquiring an additional 53 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of ServiceNow by 2.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,362 shares of the information technology services provider’s stock worth $649,000 after acquiring an additional 60 shares during the period. Finally, Allred Capital Management LLC lifted its stake in shares of ServiceNow by 3.5% in the 2nd quarter. Allred Capital Management LLC now owns 1,888 shares of the information technology services provider’s stock worth $543,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

In related news, Director Frederic B. Luddy sold 22,000 shares of ServiceNow stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $291.33, for a total transaction of $6,409,260.00. Following the transaction, the director now owns 2,983 shares of the company’s stock, valued at approximately $869,037.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $302.30, for a total transaction of $472,494.90. Following the transaction, the insider now directly owns 32,824 shares in the company, valued at approximately $9,922,695.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,598 shares of company stock valued at $24,749,747. 1.00% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of ServiceNow to $325.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Royal Bank of Canada restated a “top pick” rating and issued a $320.00 price target (up previously from $300.00) on shares of ServiceNow in a research report on Tuesday, September 3rd. Credit Suisse Group upped their price target on shares of ServiceNow from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group upped 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. Finally, BTIG Research reiterated a “buy” rating and issued a $320.00 target price on shares of ServiceNow in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $292.34.

Shares of NYSE:NOW opened at $270.59 on Friday. ServiceNow Inc has a one year low of $147.63 and a one year high of $303.17. The company has a 50 day moving average of $261.68 and a 200-day moving average of $263.92. 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 stock has a market cap of $49.51 billion, a price-to-earnings ratio of 1,352.95, a P/E/G ratio of 22.19 and a beta of 1.34.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The company had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. During the same quarter in the previous year, the company earned $0.49 EPS. ServiceNow’s revenue was up 32.1% on a year-over-year basis. Equities research analysts anticipate that ServiceNow Inc will post 0.42 earnings per share for the current year.

ServiceNow Company 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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