Douglass Winthrop Advisors LLC Increases Stake in ServiceNow, Inc. $NOW

Douglass Winthrop Advisors LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,955 shares of the information technology services provider’s stock after purchasing an additional 74 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in ServiceNow were worth $1,556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the first quarter valued at $26,000. Quarry LP acquired a new position in ServiceNow in the fourth quarter valued at $27,000. WASHINGTON TRUST Co grew its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Finally, Dagco Inc. acquired a new stake in ServiceNow during the first quarter worth about $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,585 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $900.00, for a total transaction of $1,426,500.00. Following the completion of the sale, the chief executive officer owned 12,439 shares in the company, valued at $11,195,100. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider owned 3,027 shares in the company, valued at $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,096 shares of company stock valued at $14,807,562. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.0%

NOW opened at $885.7930 on Friday. The firm’s 50 day moving average is $955.00 and its 200-day moving average is $929.70. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $184.24 billion, a P/E ratio of 111.56, a P/E/G ratio of 3.95 and a beta of 0.93.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm earned $3.13 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Oppenheimer restated an “outperform” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Raymond James Financial raised their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

ServiceNow 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.