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

Brookstone Capital Management lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,560 shares of the information technology services provider’s stock after acquiring an additional 474 shares during the period. Brookstone Capital Management’s holdings in ServiceNow were worth $16,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares in the last quarter. FMR LLC raised its position in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. World Investment Advisors LLC increased its position in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. Geode Capital Management LLC increased its position in ServiceNow by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP increased its position in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 in the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Trading Down 1.6 %

NOW traded down $16.01 during trading on Monday, reaching $1,008.56. The company had a trading volume of 352,060 shares, compared to its average volume of 1,030,801. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The firm’s 50-day simple moving average is $1,064.01 and its 200 day simple moving average is $924.13. The company has a market cap of $207.76 billion, a price-to-earnings ratio of 156.85, a PEG ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOW shares. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Raymond James started coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. JPMorgan Chase & Co. increased their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,071.39.

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.