Boston Family Office LLC Purchases 3,136 Shares of ServiceNow, Inc. $NOW

Key Points

• Boston Family Office LLC increased its stake in ServiceNow by 14.1%, owning 25,406 shares valued at $20.2 million, making it the fund's 22nd largest position.
• ServiceNow reported earnings per share of $4.09 for the last quarter, exceeding estimates by $0.52, with a year-over-year revenue increase of 22.4%.
• Analysts have mixed sentiments, with a consensus rating of "Moderate Buy" and a target price averaging $1,115.20, highlighting strong potential for growth in the stock.

Boston Family Office LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,406 shares of the information technology services provider's stock after acquiring an additional 3,136 shares during the period. ServiceNow accounts for 1.4% of Boston Family Office LLC's holdings, making the stock its 22nd largest position. Boston Family Office LLC's holdings in ServiceNow were worth $20,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NOW. Vanguard Group Inc. grew its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after buying an additional 297,734 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the period. GAMMA Investing LLC lifted its position in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after buying an additional 87,876 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of ServiceNow by 4.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock worth $2,484,752,000 after acquiring an additional 109,293 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Securities reiterated a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Stifel Nicolaus increased their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Erste Group Bank reaffirmed a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. BMO Capital Markets raised their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, UBS Group lowered their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 84 shares of ServiceNow stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total transaction of $72,287.88. Following the completion of the transaction, the chief financial officer owned 11,572 shares in the company, valued at approximately $9,958,516.04. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $860.00, for a total transaction of $258,000.00. Following the sale, the director directly owned 9,886 shares of the company's stock, valued at $8,501,960. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,038 shares of company stock worth $5,971,973 in the last ninety days. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NOW traded down $4.6480 during midday trading on Tuesday, reaching $887.4020. The company had a trading volume of 2,108,153 shares, compared to its average volume of 1,714,918. The business has a 50-day moving average price of $964.30 and a two-hundred day moving average price of $932.15. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The stock has a market cap of $184.58 billion, a PE ratio of 111.76, a P/E/G ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

ServiceNow Profile

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.