Cobblestone Capital Advisors LLC NY Takes Position in ServiceNow, Inc. (NOW)

Cobblestone Capital Advisors LLC NY acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,565 shares of the information technology services provider’s stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Creative Planning raised its position in ServiceNow by 4.2% in the first quarter. Creative Planning now owns 3,750 shares of the information technology services provider’s stock worth $328,000 after buying an additional 151 shares in the last quarter. Bank of Montreal Can raised its position in ServiceNow by 65.2% in the first quarter. Bank of Montreal Can now owns 153,219 shares of the information technology services provider’s stock worth $13,401,000 after buying an additional 60,487 shares in the last quarter. Capstone Asset Management Co. raised its position in ServiceNow by 16.3% in the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock worth $331,000 after buying an additional 530 shares in the last quarter. DnB Asset Management AS raised its position in ServiceNow by 41.1% in the first quarter. DnB Asset Management AS now owns 18,542 shares of the information technology services provider’s stock worth $1,622,000 after buying an additional 5,400 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in ServiceNow during the first quarter worth $175,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Shares of ServiceNow, Inc. (NYSE NOW) traded up 1.47% during midday trading on Tuesday, reaching $110.41. 300,562 shares of the company’s stock were exchanged. ServiceNow, Inc. has a 12-month low of $71.34 and a 12-month high of $115.85. The stock’s 50 day moving average price is $108.41 and its 200 day moving average price is $97.99. The company’s market cap is $18.85 billion.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. ServiceNow’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. Equities analysts anticipate that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.

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NOW has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating on shares of ServiceNow in a research note on Monday, April 24th. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price objective (up from $105.00) on shares of ServiceNow in a research note on Thursday, April 27th. BMO Capital Markets boosted their price target on shares of ServiceNow from $104.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Royal Bank Of Canada boosted their price target on shares of ServiceNow from $108.00 to $110.00 and gave the company a “top pick” rating in a research report on Thursday, April 27th. Finally, DA Davidson set a $118.00 price target on shares of ServiceNow and gave the company a “buy” rating in a research report on Thursday, April 27th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average price target of $115.96.

In related news, insider Michael Scarpelli sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the transaction, the insider now owns 252,368 shares in the company, valued at approximately $27,174,986.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 167,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the transaction, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 845,853 shares of company stock valued at $91,396,366. 3.30% of the stock is currently owned by company insiders.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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