William Blair Investment Management LLC Purchases Shares of 256,416 ServiceNow, Inc. (NYSE:NOW)

William Blair Investment Management LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, HoldingsChannel reports. The firm purchased 256,416 shares of the information technology services provider’s stock, valued at approximately $144,098,000.

Several other large investors have also added to or reduced their stakes in the company. Barrett & Company Inc. acquired a new position in ServiceNow in the 1st quarter worth about $28,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow in the 1st quarter worth about $29,000. Altshuler Shaham Ltd acquired a new position in ServiceNow in the 2nd quarter worth about $30,000. Larson Financial Group LLC raised its holdings in ServiceNow by 153.8% in the 1st quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 40 shares during the period. Finally, Global Trust Asset Management LLC raised its holdings in ServiceNow by 1,425.0% in the 2nd quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

ServiceNow Stock Up 1.6 %

Shares of NYSE NOW traded up $10.64 during mid-day trading on Monday, hitting $665.00. The company had a trading volume of 602,837 shares, compared to its average volume of 1,412,551. The business’s 50-day simple moving average is $577.93 and its 200 day simple moving average is $558.60. The company has a market capitalization of $136.33 billion, a PE ratio of 84.76, a price-to-earnings-growth ratio of 5.68 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $353.62 and a 1-year high of $666.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.08 and a quick ratio of 1.08.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.27 billion. On average, analysts predict that ServiceNow, Inc. will post 4.06 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 56 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $616.08, for a total value of $34,500.48. Following the sale, the general counsel now owns 4,225 shares of the company’s stock, valued at approximately $2,602,938. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Russell S. Elmer sold 56 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $616.08, for a total transaction of $34,500.48. Following the completion of the sale, the general counsel now directly owns 4,225 shares in the company, valued at approximately $2,602,938. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 owns 15,484 shares of the company’s stock, valued at $9,189,908.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,656 shares of company stock valued at $5,649,228. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on NOW. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of ServiceNow in a report on Thursday, October 26th. Evercore ISI increased their target price on ServiceNow from $550.00 to $650.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Wells Fargo & Company upped their price target on ServiceNow from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. StockNews.com started coverage on ServiceNow in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, HSBC started coverage on 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $614.77.

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.