ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 71.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 806 shares of the information technology services provider’s stock after acquiring an additional 337 shares during the period. Bahl & Gaynor Inc.’s holdings in ServiceNow were worth $614,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NOW. Trustmark National Bank Trust Department grew its position in ServiceNow by 5.9% during the first quarter. Trustmark National Bank Trust Department now owns 1,007 shares of the information technology services provider’s stock valued at $768,000 after purchasing an additional 56 shares in the last quarter. Davis R M Inc. lifted its stake in ServiceNow by 3.0% in the first quarter. Davis R M Inc. now owns 513 shares of the information technology services provider’s stock valued at $391,000 after acquiring an additional 15 shares during the last quarter. Covestor Ltd lifted its stake in ServiceNow by 17.0% in the first quarter. Covestor Ltd now owns 406 shares of the information technology services provider’s stock valued at $310,000 after acquiring an additional 59 shares during the last quarter. Elevatus Welath Management lifted its stake in ServiceNow by 9.4% in the first quarter. Elevatus Welath Management now owns 4,913 shares of the information technology services provider’s stock valued at $3,746,000 after acquiring an additional 424 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in ServiceNow by 2.7% in the first quarter. Hillsdale Investment Management Inc. now owns 1,495 shares of the information technology services provider’s stock valued at $1,140,000 after acquiring an additional 40 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NOW shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a research note on Tuesday. Wolfe Research reiterated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. KeyCorp reduced their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $818.20.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $20.87 on Wednesday, hitting $744.65. The company’s stock had a trading volume of 722,997 shares, compared to its average volume of 1,278,106. The company has a 50-day simple moving average of $741.96 and a 200 day simple moving average of $749.60. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The company has a market capitalization of $152.65 billion, a PE ratio of 79.13, a PEG ratio of 4.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts forecast that ServiceNow, Inc. will post 6.5 EPS 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.