Clear Street Markets LLC Purchases 194 Shares of ServiceNow, Inc. (NYSE:NOW)

Clear Street Markets LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 95.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 398 shares of the information technology services provider’s stock after purchasing an additional 194 shares during the quarter. Clear Street Markets LLC’s holdings in ServiceNow were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. RB Capital Management LLC grew its position in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 192 shares during the period. Zions Bancorporation N.A. grew its position in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 133 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after purchasing an additional 1,689 shares during the period. Parkside Financial Bank & Trust grew its position in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after purchasing an additional 29 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after purchasing an additional 86 shares during the period. 87.14% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.4 %

Shares of NYSE NOW traded down $2.11 during midday trading on Wednesday, hitting $595.05. 123,183 shares of the stock traded hands, compared to its average volume of 1,483,311. The company has a market cap of $121.24 billion, a PE ratio of 85.83, a P/E/G ratio of 5.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.14 and a current ratio of 1.14. ServiceNow, Inc. has a one year low of $337.00 and a one year high of $614.36. The business has a 50 day moving average price of $568.15 and a two-hundred day moving average price of $509.75.

ServiceNow (NYSE:NOWGet Free Report) last announced its earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.34. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ServiceNow had a return on equity of 11.07% and a net margin of 17.76%. On average, equities analysts predict that ServiceNow, Inc. will post 3.59 EPS for the current year.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 91 shares of ServiceNow stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $535.10, for a total transaction of $48,694.10. Following the transaction, the general counsel now owns 4,225 shares of the company’s stock, valued at $2,260,797.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 91 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $535.10, for a total value of $48,694.10. Following the transaction, the general counsel now owns 4,225 shares of the company’s stock, valued at $2,260,797.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 1,300 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $555.00, for a total value of $721,500.00. Following the completion of the transaction, the director now directly owns 13,741 shares in the company, valued at approximately $7,626,255. The disclosure for this sale can be found here. Insiders have sold a total of 17,951 shares of company stock valued at $10,147,437 over the last 90 days. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. Guggenheim upped their price objective on ServiceNow from $518.00 to $657.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Evercore ISI upped their price objective on ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Stifel Nicolaus increased their price target on ServiceNow from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Royal Bank of Canada increased their price target on ServiceNow from $540.00 to $650.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Finally, Moffett Nathanson increased their price target on ServiceNow from $549.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $591.38.

View Our Latest Research Report on NOW

ServiceNow Company Profile

(Free Report)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Further Reading

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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