Shelton Capital Management Buys 4,200 Shares of ServiceNow, Inc. (NYSE:NOW)

Shelton Capital Management increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 337.9% in the second quarter, Holdings Channel.com reports. The firm owned 5,443 shares of the information technology services provider’s stock after purchasing an additional 4,200 shares during the quarter. Shelton Capital Management’s holdings in ServiceNow were worth $3,059,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barrett & Company Inc. bought a new stake in ServiceNow during the 1st quarter worth approximately $28,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow during the 1st quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new position in ServiceNow during the 2nd quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in ServiceNow by 153.8% during the 1st quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 40 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its position in ServiceNow by 1,425.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 57 shares during the last quarter. 87.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on ServiceNow from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. JMP Securities reissued a “market outperform” rating and issued a $665.00 price objective on shares of ServiceNow in a report on Tuesday, October 17th. Moffett Nathanson increased their price objective on ServiceNow from $549.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Citigroup cut their price objective on ServiceNow from $734.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of ServiceNow in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $614.77.

ServiceNow Stock Up 0.3 %

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

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

Insider Buying and Selling

In related news, insider Paul John Smith sold 355 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $565.16, for a total value of $200,631.80. Following the transaction, the insider now owns 2,789 shares in the company, valued at $1,576,231.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 69 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $633.78, for a total value of $43,730.82. Following the sale, the general counsel now directly owns 4,225 shares of the company’s stock, valued at $2,677,720.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 355 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $565.16, for a total value of $200,631.80. Following the completion of the sale, the insider now directly owns 2,789 shares in the company, valued at $1,576,231.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,685 shares of company stock worth $5,665,178. Company insiders own 0.24% of the company’s stock.

ServiceNow Company 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.