Artisan Partners Limited Partnership Buys Shares of 142,285 ServiceNow, Inc. (NYSE:NOW)

Artisan Partners Limited Partnership purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOWGet 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

In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $439.10, for a total value of $1,871,444.20. Following the transaction, the chief financial officer now directly owns 4,262 shares in the company, valued at $1,871,444.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the sale, the general counsel now owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,262 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,510 shares of company stock worth $9,194,284. 0.28% of the stock is owned by company insiders.

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

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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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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