Overbrook Management Corp Grows Stock Holdings in ServiceNow, Inc. $NOW

Overbrook Management Corp increased its position in ServiceNow, Inc. (NYSE:NOW) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,514 shares of the information technology services provider’s stock after buying an additional 116 shares during the period. ServiceNow comprises approximately 1.6% of Overbrook Management Corp’s holdings, making the stock its 24th largest position. Overbrook Management Corp’s holdings in ServiceNow were worth $8,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the period. Versant Capital Management Inc lifted its holdings in ServiceNow by 66.5% in the 1st quarter. Versant Capital Management Inc now owns 268 shares of the information technology services provider’s stock worth $213,000 after purchasing an additional 107 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in ServiceNow by 20.9% in the 1st quarter. AdvisorNet Financial Inc now owns 156 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 27 shares in the last quarter. Rothschild Investment LLC boosted its stake in ServiceNow by 43.7% in the 1st quarter. Rothschild Investment LLC now owns 500 shares of the information technology services provider’s stock worth $398,000 after purchasing an additional 152 shares during the period. Finally, BTC Capital Management Inc. grew its holdings in ServiceNow by 32.9% during the 1st quarter. BTC Capital Management Inc. now owns 1,312 shares of the information technology services provider’s stock valued at $1,045,000 after buying an additional 325 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NOW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group cut their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Guggenheim reaffirmed a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Finally, Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s 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 $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 2.0%

NOW stock opened at $936.76 on Monday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $194.85 billion, a price-to-earnings ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91. 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’s fifty day simple moving average is $919.74 and its two-hundred day simple moving average is $927.82.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during 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 firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.