Flagship Harbor Advisors LLC Has $186,000 Position in ServiceNow Inc (NYSE:NOW)

Flagship Harbor Advisors LLC raised its stake in shares of ServiceNow Inc (NYSE:NOW) by 23.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 679 shares of the information technology services provider’s stock after acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC’s holdings in ServiceNow were worth $186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NOW. Cornerstone Advisors Inc. raised its stake in shares of ServiceNow by 3.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,212 shares of the information technology services provider’s stock worth $333,000 after buying an additional 42 shares in the last quarter. Cigna Investments Inc. New increased its stake in ServiceNow by 2.0% in the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock valued at $654,000 after purchasing an additional 53 shares in the last quarter. Sandy Spring Bank increased its stake in ServiceNow by 118.0% in the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Allred Capital Management LLC increased its stake in ServiceNow by 3.5% in the 2nd quarter. Allred Capital Management LLC now owns 1,888 shares of the information technology services provider’s stock valued at $543,000 after purchasing an additional 63 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in ServiceNow by 6.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 64 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

In other ServiceNow news, insider David Schneider sold 3,559 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $269.08, for a total value of $957,655.72. Following the transaction, the insider now directly owns 47,765 shares of the company’s stock, valued at $12,852,606.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fay Sien Goon sold 408 shares of ServiceNow stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $258.36, for a total value of $105,410.88. Following the sale, the insider now directly owns 41,777 shares in the company, valued at $10,793,505.72. The disclosure for this sale can be found here. Insiders sold 117,767 shares of company stock worth $32,107,343 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Shares of NOW stock traded down $1.57 during mid-day trading on Friday, hitting $263.07. 2,478,075 shares of the company’s stock were exchanged, compared to its average volume of 1,839,143. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. The stock has a market cap of $49.62 billion, a price-to-earnings ratio of 1,315.35, a PEG ratio of 22.68 and a beta of 1.30. The stock has a 50-day simple moving average of $278.78 and a two-hundred day simple moving average of $260.31. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. As a group, analysts anticipate that ServiceNow Inc will post 0.43 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the company. Raymond James raised their price objective on ServiceNow from $340.00 to $342.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Credit Suisse Group raised their price objective on ServiceNow from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Canaccord Genuity raised their price objective on ServiceNow from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $291.66.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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