Ashton Thomas Securities LLC Has $1.35 Million Stock Position in ServiceNow, Inc. $NOW

Ashton Thomas Securities LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,313 shares of the information technology services provider’s stock after selling 34 shares during the period. Ashton Thomas Securities LLC’s holdings in ServiceNow were worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after buying an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after acquiring an additional 188,292 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $1,817,535,000. Alliancebernstein L.P. increased its stake in ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after buying an additional 242,132 shares during the last quarter. Finally, Amundi grew its holdings in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $909.88 on Friday. The business’s fifty day moving average is $915.79 and its 200 day moving average is $928.77. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm has a market cap of $189.26 billion, a price-to-earnings ratio of 114.59, a PEG ratio of 4.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during 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 business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. DA Davidson boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Jefferies Financial Group increased 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 report on Thursday, July 24th. Bank of America lifted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the transaction, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company’s stock.

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.