Thurston Springer Miller Herd & Titak Inc. Has $1.70 Million Position in ServiceNow, Inc. $NOW

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in ServiceNow, Inc. by 20.3% during Q2, bringing its total holdings to 1,652 shares valued at approximately $1.70 million.
• ServiceNow reported $4.09 earnings per share for the last quarter, exceeding analysts' expectations of $3.57, with revenue of $3.22 billion, a 22.4% increase year-over-year.
• Insider sales totaled 18,976 shares worth $17 million during the last quarter, indicating potential concern or profit-taking among company executives.

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,652 shares of the information technology services provider's stock after purchasing an additional 279 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in ServiceNow were worth $1,698,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 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 period. 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 period. Dagco Inc. acquired a new position in ServiceNow during the first quarter valued at approximately $33,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $930.04 on Monday. The company has a 50 day moving average of $927.34 and a 200-day moving average of $922.34. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $193.45 billion, a PE ratio of 117.13, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping 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 the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Fipps sold 1,452 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 in the last quarter. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company 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. BMO Capital Markets upped their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Barclays set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target 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.

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