Blair William & Co. IL Acquires 17,828 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• Blair William & Co. IL increased its stake in ServiceNow, acquiring an additional 17,828 shares, bringing its total holdings to 326,111 shares, valued at approximately $259.6 million.
• ServiceNow exceeded analyst expectations with earnings per share (EPS) of $4.09 for the recent quarter, surpassing the consensus estimate of $3.57, while also reporting a revenue growth of 22.4% year-over-year.
• Despite recent performance, the stock is currently trading down by 3.1% and analysts have set a consensus target price of $1,115.20 with a majority recommending a "buy" rating.

Blair William & Co. IL raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,111 shares of the information technology services provider's stock after purchasing an additional 17,828 shares during the quarter. ServiceNow accounts for about 0.8% of Blair William & Co. IL's holdings, making the stock its 28th biggest holding. Blair William & Co. IL owned about 0.16% of ServiceNow worth $259,630,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NOW. Bogart Wealth LLC raised its position in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in ServiceNow during the first quarter worth approximately $26,000. Quarry LP acquired a new stake in ServiceNow during the fourth quarter worth approximately $27,000. WASHINGTON TRUST Co grew its stake in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in ServiceNow in the fourth quarter worth approximately $37,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 3.1%

NYSE NOW opened at $914.03 on Friday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $994.89 and a 200-day moving average of $950.03. The firm has a market cap of $190.12 billion, a PE ratio of 115.12, a price-to-earnings-growth ratio of 4.12 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business earned $3.13 EPS. ServiceNow's revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on NOW. Stifel Nicolaus increased their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada raised their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,990 shares of company stock worth $6,047,567 over the last 90 days. 0.38% of the stock is owned by insiders.

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.

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