ServiceNow, Inc. (NYSE:NOW) Stake Boosted by MJP Associates Inc. ADV

MJP Associates Inc. ADV raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 29.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 687 shares of the information technology services provider’s stock after buying an additional 158 shares during the quarter. MJP Associates Inc. ADV’s holdings in ServiceNow were worth $386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,835,423 shares of the information technology services provider’s stock worth $5,760,149,000 after purchasing an additional 727,494 shares in the last quarter. State Street Corp grew its holdings in shares of ServiceNow by 1.8% during the first quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after buying an additional 141,744 shares in the last quarter. Morgan Stanley raised its position in ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after buying an additional 288,522 shares during the period. Polen Capital Management LLC lifted its stake in ServiceNow by 12.6% in the 4th quarter. Polen Capital Management LLC now owns 4,452,974 shares of the information technology services provider’s stock worth $1,728,956,000 after acquiring an additional 499,675 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in ServiceNow by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock valued at $1,663,879,000 after acquiring an additional 79,037 shares in the last quarter. 87.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOW shares. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $540.00 to $650.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Moffett Nathanson lifted their price objective on ServiceNow from $549.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. TheStreet raised ServiceNow from a “c+” rating to a “b” rating in a research report on Wednesday, July 26th. JMP Securities lifted their price target on ServiceNow from $553.00 to $665.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of ServiceNow in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $594.79.

Insider Transactions at ServiceNow

In other news, COO Chirantan Jitendra Desai sold 4,500 shares of the stock in a transaction 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 sale, the chief operating officer now owns 41,307 shares in the company, valued at $24,457,874.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Chirantan Jitendra Desai sold 4,500 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the sale, the chief operating officer now directly owns 41,307 shares of the company’s stock, valued at $24,457,874.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 90 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $551.52, for a total transaction of $49,636.80. Following the completion of the transaction, the director now owns 10,879 shares of the company’s stock, valued at approximately $5,999,986.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,951 shares of company stock valued at $10,147,437. 0.24% of the stock is owned by insiders.

ServiceNow Price Performance

NYSE:NOW traded up $2.66 during mid-day trading on Monday, hitting $582.24. The company’s stock had a trading volume of 171,380 shares, compared to its average volume of 1,458,147. The company has a market capitalization of $118.63 billion, a price-to-earnings ratio of 83.51, a P/E/G ratio of 5.95 and a beta of 1.01. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.21. ServiceNow, Inc. has a fifty-two week low of $337.00 and a fifty-two week high of $614.36. The stock has a fifty day moving average of $574.04 and a 200-day moving average of $518.80.

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

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.