Grandeur Peak Global Advisors LLC Acquires Shares of 675 ServiceNow, Inc. (NYSE:NOW)

Grandeur Peak Global Advisors LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 675 shares of the information technology services provider’s stock, valued at approximately $338,000.

Several other institutional investors have also added to or reduced their stakes in NOW. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Manchester Financial Inc. raised its holdings in shares of ServiceNow by 685.7% in the first quarter. Manchester Financial Inc. now owns 55 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 48 shares during the last quarter. Reilly Financial Advisors LLC raised its holdings in shares of ServiceNow by 56.8% in the first quarter. Reilly Financial Advisors LLC now owns 58 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 21 shares during the last quarter. Evolution Wealth Advisors LLC raised its holdings in shares of ServiceNow by 530.0% in the first quarter. Evolution Wealth Advisors LLC now owns 63 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 53 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of ServiceNow by 1,160.0% in the first quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 58 shares during the last quarter. 85.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NOW stock traded up $4.60 during trading hours on Thursday, hitting $571.73. 5,532 shares of the company’s stock were exchanged, compared to its average volume of 939,276. The stock has a market capitalization of $112.89 billion, a P/E ratio of 756.17, a PEG ratio of 16.85 and a beta of 0.93. ServiceNow, Inc. has a 12-month low of $414.60 and a 12-month high of $598.37. The stock has a 50 day simple moving average of $513.77. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.53.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 28th. The information technology services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.35 by $0.17. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. ServiceNow had a net margin of 3.15% and a return on equity of 9.32%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 1.21 EPS for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 16,500 shares of ServiceNow stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $560.07, for a total transaction of $9,241,155.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 75 shares of ServiceNow stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $521.00, for a total transaction of $39,075.00. Following the transaction, the director now directly owns 9,424 shares in the company, valued at $4,909,904. The disclosure for this sale can be found here. Insiders have sold 35,207 shares of company stock worth $18,019,661 over the last three months. Insiders own 1.00% of the company’s stock.

A number of research firms recently issued reports on NOW. Robert W. Baird restated a “hold” rating on shares of ServiceNow in a report on Monday, May 3rd. BMO Capital Markets decreased their price objective on shares of ServiceNow from $590.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, April 29th. Mizuho raised their price objective on shares of ServiceNow from $590.00 to $640.00 and gave the stock a “buy” rating in a report on Friday, July 16th. Wolfe Research decreased their price objective on shares of ServiceNow from $675.00 to $600.00 and set an “outperform” rating for the company in a report on Friday, June 4th. Finally, JMP Securities increased their target price on shares of ServiceNow from $540.00 to $568.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 13th. Three research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $613.32.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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