CCLA Investment Management Purchases 1,280 Shares of ServiceNow, Inc. (NYSE:NOW)

CCLA Investment Management lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,186 shares of the information technology services provider’s stock after purchasing an additional 1,280 shares during the period. CCLA Investment Management’s holdings in ServiceNow were worth $93,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. M&G Plc acquired a new position in ServiceNow during the first quarter worth approximately $11,030,000. New Mexico Educational Retirement Board lifted its position in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after buying an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after acquiring an additional 1,078 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after acquiring an additional 56 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider’s stock worth $10,595,000 after acquiring an additional 2,928 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus upped their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Performance

NYSE:NOW opened at $886.77 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $181.79 billion, a PE ratio of 94.84, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $899.61. The stock’s 50-day simple moving average is $812.61 and its 200 day simple moving average is $768.20.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

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.