Vaughan Nelson Investment Management L.P. Invests $125.92 Million in ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 160,065 shares of the information technology services provider’s stock, valued at approximately $125,916,000. ServiceNow makes up approximately 1.2% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 24th biggest position. Vaughan Nelson Investment Management L.P. owned approximately 0.08% of ServiceNow at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NOW. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the 4th quarter valued at $29,000. Finally, Sachetta LLC purchased a new stake in ServiceNow in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,178 shares of company stock valued at $7,760,105. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

NOW stock traded down $4.55 during midday trading on Friday, reaching $827.56. The stock had a trading volume of 835,507 shares, compared to its average volume of 1,322,462. The firm has a fifty day simple moving average of $770.45 and a two-hundred day simple moving average of $757.21. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $850.33. 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 stock has a market cap of $169.65 billion, a PE ratio of 88.51, a P/E/G ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 6.84 EPS for the current year.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wolfe Research restated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $849.62.

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.