ServiceNow, Inc. $NOW is Brown Shipley& Co Ltd's 6th Largest Position

Key Points

• Brown Shipley & Co Ltd reduced its stake in ServiceNow, Inc. by 5.9%, now holding 8,361 shares which represent 4.7% of its portfolio, making it the firm's 6th largest position.
• ServiceNow reported a quarterly EPS of $4.09, surpassing estimates by $0.52, with a revenue of $3.22 billion, reflecting a year-over-year growth of 22.4%.
• In recent analyst activity, BMO Capital Markets and Wells Fargo & Company raised their price targets for ServiceNow, indicating strong interest from institutional investors with 87.18% of the company's stock owned by them.

Brown Shipley& Co Ltd lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,361 shares of the information technology services provider's stock after selling 528 shares during the period. ServiceNow accounts for 4.7% of Brown Shipley& Co Ltd's portfolio, making the stock its 6th largest holding. Brown Shipley& Co Ltd's holdings in ServiceNow were worth $8,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the second quarter valued at approximately $30,000. Bogart Wealth LLC grew its holdings in ServiceNow by 113.3% during 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 position in ServiceNow during the first quarter valued at approximately $26,000. WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Dagco Inc. acquired a new position in ServiceNow during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 2.2%

Shares of NOW stock opened at $920.51 on Wednesday. The stock has a market cap of $191.47 billion, a P/E ratio of 115.93, a price-to-earnings-growth ratio of 4.24 and a beta of 0.91. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a fifty day moving average price of $918.47 and a 200 day moving average price of $928.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned $3.13 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. BMO Capital Markets increased their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group lowered their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Finally, Guggenheim restated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,122.20.

ServiceNow Company 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.

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