Dearborn Partners LLC Makes New Investment in ServiceNow, Inc. $NOW

Dearborn Partners LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,482 shares of the information technology services provider’s stock, valued at approximately $782,000.

A number of other large investors also recently modified their holdings of the stock. Millstone Evans Group LLC grew its holdings in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Blueline Advisors LLC bought a new position in ServiceNow during the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC boosted its holdings in ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC boosted its holdings in ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Truist Financial boosted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. Cantor Fitzgerald increased their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Evercore reissued an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Stock Down 0.3%

ServiceNow stock opened at $128.09 on Tuesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The firm has a 50 day moving average price of $109.36 and a 200-day moving average price of $105.79. The company has a market capitalization of $132.45 billion, a P/E ratio of 80.06, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. ServiceNow’s revenue was up 24.0% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.