J.Safra Asset Management Corp Grows Holdings in ServiceNow, Inc. $NOW

J.Safra Asset Management Corp increased its position in ServiceNow, Inc. (NYSE:NOW) by 19.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 564 shares of the information technology services provider’s stock after acquiring an additional 91 shares during the quarter. J.Safra Asset Management Corp’s holdings in ServiceNow were worth $577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Courier Capital LLC bought a new position in ServiceNow in the 2nd quarter worth approximately $203,000. Sagespring Wealth Partners LLC boosted its stake in ServiceNow by 31.1% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 1,998 shares of the information technology services provider’s stock worth $2,054,000 after purchasing an additional 474 shares during the period. Boston Trust Walden Corp boosted its stake in ServiceNow by 57.7% in the 2nd quarter. Boston Trust Walden Corp now owns 779 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 285 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in ServiceNow by 16.6% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 6,645 shares of the information technology services provider’s stock worth $6,832,000 after purchasing an additional 948 shares during the period. Finally, RFG Advisory LLC boosted its stake in ServiceNow by 5.3% in the 2nd quarter. RFG Advisory LLC now owns 4,893 shares of the information technology services provider’s stock worth $5,031,000 after purchasing an additional 247 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated 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 completion of the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock valued at $16,798,825 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 3.9%

NYSE:NOW opened at $923.44 on Tuesday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market cap of $192.07 billion, a price-to-earnings ratio of 116.30, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. The stock has a fifty day simple moving average of $909.24 and a 200-day simple moving average of $933.88. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NOW. Jefferies Financial Group upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Citigroup increased their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial increased their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Needham & Company LLC increased their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets increased their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,121.37.

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.