Vaughan Nelson Investment Management L.P. Grows Position in ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. raised its position in ServiceNow, Inc. (NYSE:NOW) by 28.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,164 shares of the information technology services provider’s stock after acquiring an additional 45,099 shares during the quarter. ServiceNow makes up about 1.6% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 12th biggest holding. Vaughan Nelson Investment Management L.P. owned about 0.10% of ServiceNow worth $183,497,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NOW. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares in the last quarter. Venturi Wealth Management LLC increased its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares during the period. AXA S.A. lifted its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $2,679,000. Finally, Brookstone Capital Management grew its position in shares of ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,325 shares of company stock valued at $5,024,928 in the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Down 2.7 %

ServiceNow stock opened at $1,011.39 on Friday. The stock has a 50-day moving average price of $932.47 and a 200 day moving average price of $824.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,061.66. The stock has a market cap of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JMP Securities increased their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

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.