IFP Advisors Inc Acquires 1,446 Shares of ServiceNow Inc (NOW)

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IFP Advisors Inc grew its holdings in shares of ServiceNow Inc (NYSE:NOW) by 43.5% during the second quarter, HoldingsChannel.com reports. The firm owned 4,773 shares of the information technology services provider’s stock after purchasing an additional 1,446 shares during the quarter. IFP Advisors Inc’s holdings in ServiceNow were worth $823,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CAPROCK Group Inc. purchased a new stake in ServiceNow during the second quarter worth about $266,000. Mn Services Vermogensbeheer B.V. increased its stake in ServiceNow by 2.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 27,151 shares of the information technology services provider’s stock worth $4,492,000 after purchasing an additional 700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in ServiceNow by 1.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,771 shares of the information technology services provider’s stock worth $9,964,000 after purchasing an additional 752 shares during the period. LPL Financial LLC increased its stake in ServiceNow by 9.2% during the first quarter. LPL Financial LLC now owns 5,273 shares of the information technology services provider’s stock worth $872,000 after purchasing an additional 444 shares during the period. Finally, BP PLC increased its stake in ServiceNow by 10.0% during the second quarter. BP PLC now owns 22,000 shares of the information technology services provider’s stock worth $3,795,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 96.85% of the company’s stock.

Shares of NOW opened at $181.36 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. ServiceNow Inc has a 52-week low of $107.02 and a 52-week high of $194.81.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The firm had revenue of $631.05 million during the quarter, compared to the consensus estimate of $616.68 million. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. analysts predict that ServiceNow Inc will post 0.16 EPS for the current fiscal year.

A number of brokerages have issued reports on NOW. Argus boosted their price target on shares of ServiceNow to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of ServiceNow from a “hold” rating to a “strong sell” rating in a research note on Monday, July 30th. Barclays reissued a “buy” rating and set a $198.00 price objective on shares of ServiceNow in a research report on Friday, July 27th. Northland Securities reissued a “buy” rating and set a $200.00 price objective on shares of ServiceNow in a research report on Thursday, July 26th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $205.00 price objective on shares of ServiceNow in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and an average price target of $196.12.

In related news, CRO David Schneider sold 2,372 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $168.70, for a total value of $400,156.40. Following the completion of the transaction, the executive now directly owns 39,703 shares of the company’s stock, valued at $6,697,896.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $187.01, for a total value of $379,817.31. Following the completion of the transaction, the insider now directly owns 2,534 shares of the company’s stock, valued at $473,883.34. The disclosure for this sale can be found here. Insiders sold 216,570 shares of company stock valued at $39,688,252 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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