Lindbrook Capital LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Lindbrook Capital LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,402 shares of the information technology services provider’s stock after buying an additional 39 shares during the period. Lindbrook Capital LLC’s holdings in ServiceNow were worth $1,254,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOW. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Swedbank AB increased its holdings in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after buying an additional 120,983 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after buying an additional 168,734 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOW shares. Oppenheimer boosted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein boosted their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JMP Securities raised their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock valued at $2,791,181 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,008.08 on Friday. The company has a market cap of $207.66 billion, a PE ratio of 156.78, a P/E/G ratio of 5.71 and a beta of 0.98. The firm’s 50 day moving average price is $912.56 and its 200-day moving average price is $812.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52-week low of $615.54 and a 52-week high of $1,024.44.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.