ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Gemmer Asset Management LLC

Gemmer Asset Management LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,893 shares of the information technology services provider’s stock after acquiring an additional 1,971 shares during the period. ServiceNow comprises 2.0% of Gemmer Asset Management LLC’s portfolio, making the stock its 14th largest holding. Gemmer Asset Management LLC’s holdings in ServiceNow were worth $18,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Roman Butler Fullerton & Co. grew its stake in ServiceNow by 19.6% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 2,510 shares of the information technology services provider’s stock worth $1,865,000 after acquiring an additional 412 shares during the period. Wedmont Private Capital boosted its holdings in shares of ServiceNow by 8.5% during the second quarter. Wedmont Private Capital now owns 2,119 shares of the information technology services provider’s stock worth $1,607,000 after purchasing an additional 166 shares during the last quarter. Signature Wealth Management Group grew its position in shares of ServiceNow by 3.3% in the second quarter. Signature Wealth Management Group now owns 1,729 shares of the information technology services provider’s stock valued at $1,360,000 after purchasing an additional 55 shares during the period. LVW Advisors LLC increased its stake in ServiceNow by 13.3% in the second quarter. LVW Advisors LLC now owns 393 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 46 shares during the last quarter. Finally, D.B. Root & Company LLC lifted its position in ServiceNow by 70.6% during the second quarter. D.B. Root & Company LLC now owns 1,107 shares of the information technology services provider’s stock worth $871,000 after buying an additional 458 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOW. Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. KeyCorp dropped their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $842.22.

Insider Activity

In other news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul John Smith sold 187 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The disclosure for this sale can be found here. Insiders sold a total of 9,139 shares of company stock worth $6,913,787 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NOW stock traded up $12.18 during midday trading on Tuesday, reaching $818.80. 760,985 shares of the company were exchanged, compared to its average volume of 1,329,767. The company’s 50 day moving average price is $760.07 and its two-hundred day moving average price is $755.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $167.85 billion, a P/E ratio of 87.47, a PEG ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

ServiceNow Company Profile

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.