Klingman & Associates LLC Has $548,000 Position in ServiceNow, Inc. $NOW

Klingman & Associates LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 533 shares of the information technology services provider’s stock after purchasing an additional 97 shares during the quarter. Klingman & Associates LLC’s holdings in ServiceNow were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOW. Brighton Jones LLC grew its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC grew its holdings in ServiceNow by 10.0% during the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after purchasing an additional 308 shares during the period. Flagship Harbor Advisors LLC grew its holdings in ServiceNow by 35.1% during the first quarter. Flagship Harbor Advisors LLC now owns 2,223 shares of the information technology services provider’s stock valued at $1,770,000 after purchasing an additional 577 shares during the period. Oppenheimer & Co. Inc. grew its holdings in ServiceNow by 21.3% during the first quarter. Oppenheimer & Co. Inc. now owns 7,342 shares of the information technology services provider’s stock valued at $5,845,000 after purchasing an additional 1,291 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in ServiceNow by 4.4% in the first quarter. Asset Management One Co. Ltd. now owns 104,192 shares of the information technology services provider’s stock valued at $82,951,000 after buying an additional 4,417 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $942.56 on Wednesday. The company’s fifty day simple moving average is $913.34 and its 200-day simple moving average is $938.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $196.05 billion, a PE ratio of 118.71, a P/E/G ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.13 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. DA Davidson lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial lifted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group lifted their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Zacks Research raised shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,121.37.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.