ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Davis R M Inc.

Key Points

• Davis R M Inc. increased its holdings in ServiceNow, Inc. by 55.4%, acquiring 7,468 additional shares, bringing its total to 20,950 shares worth approximately $16.68 million.
• Institutional investors now own 87.18% of ServiceNow's stock, with significant increases from firms like GAMMA Investing LLC and OVERSEA CHINESE BANKING Corp Ltd.
• ServiceNow reported $4.09 EPS for the last quarter, exceeding expectations, while its revenue grew 22.4% year-over-year, totaling $3.22 billion.

Davis R M Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 55.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,950 shares of the information technology services provider's stock after purchasing an additional 7,468 shares during the quarter. Davis R M Inc.'s holdings in ServiceNow were worth $16,680,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Roble Belko & Company Inc boosted its holdings in shares of ServiceNow by 5.4% in the first quarter. Roble Belko & Company Inc now owns 295 shares of the information technology services provider's stock valued at $235,000 after acquiring an additional 15 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of ServiceNow by 0.6% in the first quarter. NorthRock Partners LLC now owns 2,062 shares of the information technology services provider's stock valued at $1,642,000 after acquiring an additional 13 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in shares of ServiceNow by 21.0% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,450 shares of the information technology services provider's stock valued at $1,125,000 after acquiring an additional 252 shares in the last quarter. Dearborn Partners LLC boosted its holdings in ServiceNow by 9.4% during the first quarter. Dearborn Partners LLC now owns 594 shares of the information technology services provider's stock worth $473,000 after buying an additional 51 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in ServiceNow by 129.0% during the first quarter. Arkadios Wealth Advisors now owns 6,984 shares of the information technology services provider's stock worth $5,560,000 after buying an additional 3,934 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 3.1%

NOW traded down $29.09 during trading hours on Friday, reaching $914.03. 1,810,388 shares of the stock traded hands, compared to its average volume of 1,532,572. The firm's fifty day simple moving average is $994.89 and its two-hundred day simple moving average is $950.03. The company has a market cap of $190.12 billion, a price-to-earnings ratio of 115.12, a PEG ratio of 4.12 and a beta of 0.93. 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 current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. 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 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director directly owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The shares were 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. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,990 shares of company stock worth $6,047,567 over the last ninety days. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. DA Davidson boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Raymond James Financial upped their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

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.