Jacobs & Co. CA Sells 67 Shares of ServiceNow, Inc. $NOW

Jacobs & Co. CA reduced its position in ServiceNow, Inc. (NYSE:NOW) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,425 shares of the information technology services provider’s stock after selling 67 shares during the period. Jacobs & Co. CA’s holdings in ServiceNow were worth $9,689,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Haverford Trust Co increased its holdings in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after acquiring an additional 10 shares in the last quarter. Ascent Group LLC increased its holdings in ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. increased its holdings in ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 11 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after acquiring an additional 11 shares in the last quarter. Finally, one8zero8 LLC increased its holdings in ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Finally, UBS Group dropped their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 0.9%

Shares of NOW opened at $930.04 on Friday. The stock has a market capitalization of $193.45 billion, a PE ratio of 117.13, a P/E/G ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day simple moving average is $927.34 and its 200-day simple moving average is $922.46.

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

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.