760 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 760 shares of the information technology services provider’s stock, valued at approximately $428,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in shares of ServiceNow in the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at about $29,000. Larson Financial Group LLC raised its stake in shares of ServiceNow by 153.8% in the 1st quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. Finally, Resources Management Corp CT ADV raised its stake in ServiceNow by 233.3% during the first quarter. Resources Management Corp CT ADV now owns 500 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Stifel Nicolaus increased their price objective on shares of ServiceNow from $600.00 to $640.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Sanford C. Bernstein upped their target price on shares of ServiceNow from $586.00 to $665.00 in a research report on Tuesday, May 30th. Oppenheimer upped their target price on shares of ServiceNow from $500.00 to $640.00 in a research report on Thursday, July 20th. Guggenheim upped their target price on shares of ServiceNow from $518.00 to $657.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, JMP Securities upped their target price on shares of ServiceNow from $553.00 to $665.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $594.79.

ServiceNow Stock Performance

Shares of NOW stock opened at $579.58 on Friday. The stock has a market cap of $118.08 billion, a P/E ratio of 83.51, a P/E/G ratio of 5.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.14 and a quick ratio of 1.14. The company has a fifty day moving average price of $574.04 and a two-hundred day moving average price of $518.18. ServiceNow, Inc. has a one year low of $337.00 and a one year high of $614.36.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. As a group, equities analysts predict that ServiceNow, Inc. will post 3.59 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Christopher Bedi sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $593.51, for a total value of $593,510.00. Following the transaction, the insider now directly owns 15,484 shares of the company’s stock, valued at approximately $9,189,908.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Christopher Bedi sold 1,000 shares of ServiceNow stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $593.51, for a total transaction of $593,510.00. Following the sale, the insider now directly owns 15,484 shares in the company, valued at approximately $9,189,908.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Chirantan Jitendra Desai sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the completion of the transaction, the chief operating officer now owns 41,307 shares in the company, valued at approximately $24,457,874.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,951 shares of company stock valued at $10,147,437. 0.24% of the stock is owned by company insiders.

ServiceNow Profile

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.