Dearborn Partners LLC Acquires Shares of 7,482 ServiceNow, Inc. $NOW

Dearborn Partners LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The firm bought 7,482 shares of the information technology services provider’s stock, valued at approximately $782,000.

Several other large investors have also recently modified their holdings of NOW. Asset One Wealth Management LLC bought a new stake in shares of ServiceNow in the second quarter valued at approximately $1,063,000. Ally Financial Inc. purchased a new position in ServiceNow in the 2nd quarter valued at approximately $1,588,000. Maxi Investments CY Ltd purchased a new position in ServiceNow in the 2nd quarter valued at approximately $7,793,000. Cibc World Market Inc. purchased a new position in ServiceNow in the 2nd quarter valued at approximately $36,734,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in ServiceNow during the 2nd quarter valued at $27,562,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by insiders.

ServiceNow Stock Down 0.3%

Shares of NYSE NOW opened at $128.09 on Tuesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $132.45 billion, a price-to-earnings ratio of 80.06, a PEG ratio of 2.26 and a beta of 0.94. The business has a 50-day moving average of $109.36 and a 200-day moving average of $105.79.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the firm posted $0.81 earnings per share. ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Robert W. Baird increased their target price on ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Barclays reiterated an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. CLSA started coverage on ServiceNow in a research note on Monday, July 20th. They set an “underperform” rating and a $72.00 price objective on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. Finally, Benchmark restated a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.