Nicollet Investment Management Inc. Has $5.78 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Nicollet Investment Management Inc. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,343 shares of the information technology services provider’s stock after selling 192 shares during the period. ServiceNow comprises about 2.2% of Nicollet Investment Management Inc.’s portfolio, making the stock its 14th biggest position. Nicollet Investment Management Inc.’s holdings in ServiceNow were worth $5,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow in the fourth quarter worth $29,000. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 0.5 %

NOW stock opened at $860.04 on Wednesday. The firm has a market capitalization of $177.17 billion, a PE ratio of 91.98, a P/E/G ratio of 4.95 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $866.45. The stock’s 50 day moving average is $801.98 and its 200-day moving average is $764.19.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. JMP Securities raised their price objective on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup increased their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, TD Cowen boosted their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $849.62.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.