Moors & Cabot Inc. Purchases 64 Shares of ServiceNow, Inc. (NYSE:NOW)

Moors & Cabot Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686 shares of the information technology services provider’s stock after purchasing an additional 64 shares during the period. Moors & Cabot Inc.’s holdings in ServiceNow were worth $386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. RB Capital Management LLC lifted its stake in 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 last quarter. Zions Bancorporation N.A. lifted its stake in 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 last quarter. Brown Brothers Harriman & Co. lifted its stake in 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 last quarter. Parkside Financial Bank & Trust lifted its stake in 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 last quarter. Finally, NewEdge Advisors LLC increased its position in 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 acquiring an additional 86 shares during the period. Institutional investors own 87.14% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related 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 transaction of $593,510.00. Following the transaction, the insider now directly owns 15,484 shares of the company’s stock, valued at $9,189,908.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Chirantan Jitendra Desai sold 4,500 shares of the firm’s stock in a transaction dated 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 transaction, 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 can be accessed through the SEC website. Also, 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 transaction of $593,510.00. Following the transaction, the insider now directly owns 15,484 shares in the company, valued at $9,189,908.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $5,665,178. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Stock Up 0.3 %

ServiceNow stock opened at $654.36 on Friday. ServiceNow, Inc. has a 1-year low of $353.62 and a 1-year high of $659.94. The firm has a market capitalization of $134.14 billion, a price-to-earnings ratio of 84.76, a price-to-earnings-growth ratio of 5.68 and a beta of 0.99. The firm’s fifty day moving average price is $577.93 and its two-hundred day moving average price is $557.75. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.21.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.32. ServiceNow had a net margin of 18.72% and a return on equity of 12.25%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. On average, equities research analysts predict that ServiceNow, Inc. will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Guggenheim restated a “buy” rating and issued a $657.00 price target on shares of ServiceNow in a research report on Thursday, October 19th. Wells Fargo & Company upped their price target on shares of ServiceNow from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. JMP Securities restated a “market outperform” rating and issued a $665.00 price target on shares of ServiceNow in a research report on Tuesday, October 17th. Evercore ISI upped their price target on shares of ServiceNow from $550.00 to $650.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Finally, HSBC initiated coverage on shares of ServiceNow in a research report on Friday, September 15th. They issued a “buy” rating and a $704.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $614.77.

About ServiceNow

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.