ServiceNow, Inc. $NOW Shares Bought by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. increased its stake in ServiceNow, Inc. by 21.8% during the second quarter, now holding shares valued at $17,369,000.
• Recent insider trades have seen significant share sales, notably by General Counsel Russell S. Elmer and insider Paul Fipps, indicating a 28.16% and 76.06% decrease in their ownership, respectively.
• ServiceNow's latest quarterly earnings report showed earnings per share of $4.09, exceeding analyst expectations, with a year-over-year revenue increase of 22.4%.

D.A. Davidson & CO. raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,895 shares of the information technology services provider's stock after acquiring an additional 3,023 shares during the period. D.A. Davidson & CO.'s holdings in ServiceNow were worth $17,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth $26,000. WASHINGTON TRUST Co lifted its stake in shares of 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 buying an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth $30,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of ServiceNow during the second quarter worth $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. Raymond James Financial raised their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Barclays set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,121.37.

ServiceNow Stock Down 0.6%

NOW opened at $936.25 on Thursday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $914.81 and a two-hundred day moving average of $938.12. The stock has a market capitalization of $194.74 billion, a price-to-earnings ratio of 117.92, a PEG ratio of 4.24 and a beta of 0.92.

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

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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