Intellectus Partners LLC Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Intellectus Partners LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,118 shares of the information technology services provider’s stock after purchasing an additional 80 shares during the quarter. Intellectus Partners LLC’s holdings in ServiceNow were worth $1,164,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Selective Wealth Management Inc. acquired a new position in shares of ServiceNow in the 2nd quarter valued at $30,000. SRS Capital Advisors Inc. purchased a new position in shares of ServiceNow in the 2nd quarter worth $33,000. Lloyd Advisory Services LLC. boosted its holdings in ServiceNow by 48.8% in the second quarter. Lloyd Advisory Services LLC. now owns 61 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 20 shares during the last quarter. Wolverine Asset Management LLC grew its position in ServiceNow by 1,160.0% during the first quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 58 shares during the period. Finally, Bedel Financial Consulting Inc. increased its stake in ServiceNow by 97.0% during the second quarter. Bedel Financial Consulting Inc. now owns 65 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 32 shares during the last quarter. 85.42% of the stock is owned by hedge funds and other institutional investors.

NOW has been the topic of several research reports. Zacks Investment Research lowered shares of ServiceNow from a “strong-buy” rating to a “hold” rating and set a $614.00 price target on the stock. in a report on Tuesday, August 3rd. Royal Bank of Canada increased their price target on ServiceNow from $640.00 to $670.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Jefferies Financial Group boosted their price objective on ServiceNow from $625.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. KeyCorp increased their target price on ServiceNow from $660.00 to $718.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Finally, Mizuho boosted their price target on ServiceNow from $640.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Two research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Buy” and a consensus price target of $653.97.

In other ServiceNow news, insider Fay Sien Goon sold 979 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $599.36, for a total value of $586,773.44. Following the completion of the sale, the insider now directly owns 4,498 shares of the company’s stock, valued at $2,695,921.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 75 shares of the business’s stock in a transaction on Wednesday, September 29th. The stock was sold at an average price of $620.00, for a total transaction of $46,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,861 shares of company stock valued at $18,888,544. Insiders own 0.35% of the company’s stock.

NOW stock traded up $17.18 during mid-day trading on Thursday, reaching $656.59. The company had a trading volume of 23,174 shares, compared to its average volume of 1,367,600. The stock’s 50-day simple moving average is $628.06 and its two-hundred day simple moving average is $559.63. The stock has a market capitalization of $130.07 billion, a P/E ratio of 773.82, a P/E/G ratio of 17.05 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. ServiceNow, Inc. has a one year low of $448.27 and a one year high of $681.10.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 28th. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $1.26. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. ServiceNow had a return on equity of 9.10% and a net margin of 3.30%. On average, research analysts forecast that ServiceNow, Inc. will post 1.35 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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