Artisan Partners Limited Partnership purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 142,285 shares of the information technology services provider’s stock, valued at approximately $67,659,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. OLD Second National Bank of Aurora bought a new stake in shares of ServiceNow during the 1st quarter valued at about $28,000. Tortoise Investment Management LLC lifted its position in ServiceNow by 55.0% during the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the 1st quarter worth approximately $29,000. Core Alternative Capital increased its holdings in shares of ServiceNow by 310.5% in the 1st quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock worth $43,000 after buying an additional 59 shares during the last quarter. Finally, Worth Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $45,000. Institutional investors own 87.49% of the company’s stock.
ServiceNow Trading Up 2.3 %
ServiceNow stock opened at $409.37 on Thursday. ServiceNow, Inc. has a 52-week low of $337.00 and a 52-week high of $679.62. The company has a market cap of $82.69 billion, a P/E ratio of 413.51, a P/E/G ratio of 8.09 and a beta of 0.99. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $390.46 and a two-hundred day simple moving average of $436.28.
Insider Activity at ServiceNow
Analyst Ratings Changes
A number of research analysts recently commented on NOW shares. Moffett Nathanson raised ServiceNow from a “market perform” rating to an “outperform” rating and set a $549.00 target price on the stock in a research note on Thursday, October 27th. Barclays reduced their target price on ServiceNow to $496.00 in a report on Thursday, October 27th. JMP Securities cut their price objective on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. StockNews.com started coverage on shares of ServiceNow in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, BMO Capital Markets dropped their price target on ServiceNow from $497.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $537.26.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
- Get a free copy of the StockNews.com research report on ServiceNow (NOW)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
- Institutional Support for Analog Devices Remains High
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.