ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC increased its position in ServiceNow by 14.4%, owning 26,100 shares valued at approximately $20.8 million at the end of the recent quarter.
• ServiceNow's latest earnings report showed an earnings per share of $4.09, surpassing expectations, with a 22.4% year-over-year revenue increase to $3.22 billion.
• Analysts have positively upgraded ServiceNow's stock prices, with the average target set at $1,115.20, indicating a "Moderate Buy" rating across multiple firms.

Howland Capital Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,100 shares of the information technology services provider's stock after acquiring an additional 3,289 shares during the period. Howland Capital Management LLC's holdings in ServiceNow were worth $20,779,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the period. Private Portfolio Partners LLC boosted its position in shares of ServiceNow by 4.4% in the 4th quarter. Private Portfolio Partners LLC now owns 525 shares of the information technology services provider's stock valued at $557,000 after purchasing an additional 22 shares during the period. OneAscent Financial Services LLC boosted its position in shares of ServiceNow by 115.4% in the 4th quarter. OneAscent Financial Services LLC now owns 491 shares of the information technology services provider's stock valued at $521,000 after purchasing an additional 263 shares during the period. Biltmore Family Office LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $222,000. Finally, Nicolet Advisory Services LLC boosted its position in shares of ServiceNow by 9.4% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,109 shares of the information technology services provider's stock valued at $1,136,000 after purchasing an additional 95 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America raised their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Mizuho raised their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Stifel Nicolaus raised their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group cut their price objective on 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, Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Trading Down 3.5%

Shares of NOW opened at $942.84 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The stock's fifty day simple moving average is $996.72 and its 200-day simple moving average is $951.56. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $196.11 billion, a PE ratio of 118.75, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94.

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

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 145 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the sale, the insider owned 3,027 shares of the company's stock, valued at $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,990 shares of company stock valued at $6,047,567 over the last 90 days. Insiders own 0.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.