Cahill Financial Advisors Inc. Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Cahill Financial Advisors Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403 shares of the information technology services provider’s stock after purchasing an additional 18 shares during the quarter. Cahill Financial Advisors Inc.’s holdings in ServiceNow were worth $360,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOW. Massachusetts Financial Services Co. MA increased its holdings in ServiceNow by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after buying an additional 167,847 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of ServiceNow by 2.3% during the 2nd 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 acquiring an additional 34,855 shares during the period. Swedbank AB increased its stake 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 valued at $1,021,666,000 after purchasing an additional 120,983 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ServiceNow by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock worth $1,105,767,000 after purchasing an additional 31,702 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% in the third 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. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,060.60 on Monday. The business’s 50 day moving average is $948.53 and its 200-day moving average is $836.29. The firm has a market cap of $218.48 billion, a P/E ratio of 164.95, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,064.59. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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 the consensus estimate of $2.75 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $95,554.76. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,077,066.58. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,787 shares of company stock valued at $17,841,028 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Citigroup lifted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Oppenheimer upped their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $986.39.

ServiceNow Company Profile

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.