Brown Advisory Inc. raised its stake in ServiceNow Inc (NYSE:NOW) by 34.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,809 shares of the information technology services provider’s stock after acquiring an additional 1,480 shares during the period. Brown Advisory Inc.’s holdings in ServiceNow were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Alpha Windward LLC bought a new position in ServiceNow in the 2nd quarter valued at about $102,000. Three Peaks Capital Management LLC bought a new position in ServiceNow in the 1st quarter valued at about $113,000. IHT Wealth Management LLC raised its holdings in ServiceNow by 66.7% in the 1st quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock valued at $121,000 after acquiring an additional 300 shares during the period. Adviser Investments LLC bought a new position in ServiceNow in the 1st quarter valued at about $166,000. Finally, Signaturefd LLC bought a new position in ServiceNow in the 1st quarter valued at about $202,000. 95.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NOW opened at $199.01 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market cap of $35.05 billion, a PE ratio of -189.75, a price-to-earnings-growth ratio of 46.77 and a beta of 1.25. ServiceNow Inc has a 12 month low of $110.17 and a 12 month high of $201.00.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $631.05 million for the quarter, compared to analyst estimates of $616.68 million. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. equities analysts predict that ServiceNow Inc will post 0.16 EPS for the current year.

Several research analysts have weighed in on NOW shares. Barclays increased their price target on shares of ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank increased their price target on shares of ServiceNow to $200.00 and gave the company a “buy” rating in a report on Thursday, May 31st. Citigroup increased their price target on shares of ServiceNow to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 3rd. Argus raised their target price on shares of ServiceNow to $215.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, KeyCorp raised their target price on shares of ServiceNow from $194.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. ServiceNow has an average rating of “Buy” and a consensus price target of $197.54.

In related news, Director Ronald E. F. Codd sold 39,506 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the sale, the director now owns 53,428 shares in the company, valued at approximately $9,931,196.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 3,179 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $182.87, for a total transaction of $581,343.73. Following the sale, the director now owns 9,105 shares in the company, valued at approximately $1,665,031.35. The disclosure for this sale can be found here. Insiders have sold a total of 191,498 shares of company stock worth $35,423,214 in the last quarter. 1.60% of the stock is currently owned by company insiders.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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