Berman Capital Advisors LLC Purchases 219 Shares of ServiceNow Inc (NYSE:NOW)

Sourec: mayfieldrecorder.com

Berman Capital Advisors LLC lifted its position in ServiceNow Inc (NYSE:NOW) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,384 shares of the information technology services provider’s stock after purchasing an additional 219 shares during the quarter. Berman Capital Advisors LLC’s holdings in ServiceNow were worth $928,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of ServiceNow in the first quarter worth $724,000. Arcadia Investment Management Corp MI increased its stake in ServiceNow by 219.5% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock valued at $741,000 after acquiring an additional 1,855 shares during the last quarter. Dock Street Asset Management Inc. bought a new position in ServiceNow in the first quarter valued at $937,000. Roman Butler Fullerton & Co. increased its stake in ServiceNow by 4.9% in the first quarter. Roman Butler Fullerton & Co. now owns 2,857 shares of the information technology services provider’s stock valued at $704,000 after acquiring an additional 133 shares during the last quarter. Finally, Glaxis Capital Management LLC bought a new position in ServiceNow in the first quarter valued at $2,075,000. 92.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NOW opened at $263.82 on Friday. The company’s 50-day moving average is $285.13. ServiceNow Inc has a 12-month low of $147.63 and a 12-month high of $303.17. The company has a market capitalization of $48.55 billion, a PE ratio of 1,319.10, a P/E/G ratio of 21.78 and a beta of 1.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. ServiceNow had a return on equity of 4.44% and a net margin of 0.09%. The firm had revenue of $833.90 million for the quarter, compared to analysts’ expectations of $831.50 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, research analysts expect that ServiceNow Inc will post 0.43 EPS for the current fiscal year.

A number of research analysts recently commented on NOW shares. Barclays increased their target price on ServiceNow from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their target price on ServiceNow from $285.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank increased their target price on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Cowen increased their target price on ServiceNow from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Piper Jaffray Companies increased their target price on ServiceNow from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $287.86.

In other news, insider Michael Scarpelli sold 25,899 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $278.41, for a total transaction of $7,210,540.59. Following the completion of the sale, the insider now directly owns 37,071 shares in the company, valued at $10,320,937.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,560 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $263.05, for a total transaction of $410,358.00. Following the sale, the insider now owns 3,094 shares of the company’s stock, valued at $813,876.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,647 shares of company stock valued at $32,406,691. 1.00% of the stock is currently owned by company insiders.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.