Childress Capital Advisors LLC Raises Stake in ServiceNow, Inc. $NOW

Childress Capital Advisors LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 669 shares of the information technology services provider’s stock after buying an additional 71 shares during the period. Childress Capital Advisors LLC’s holdings in ServiceNow were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC lifted its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the first quarter valued at approximately $26,000. WASHINGTON TRUST Co lifted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. acquired a new position in ServiceNow in the second quarter valued at approximately $30,000. Finally, Dagco Inc. acquired a new position in ServiceNow in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.2%

NYSE NOW opened at $920.51 on Wednesday. The business has a fifty day moving average price of $918.47 and a 200 day moving average price of $928.42. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $191.47 billion, a P/E ratio of 115.93, a P/E/G ratio of 4.24 and a beta of 0.91.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $3.13 EPS. The firm’s revenue was up 22.4% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Oppenheimer reissued an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. UBS Group reduced their target price on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Finally, Raymond James Financial upped their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock worth $17,049,775 in the last quarter. 0.38% of the stock is 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.