11,632 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Montag & Caldwell LLC

Montag & Caldwell LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,632 shares of the information technology services provider’s stock, valued at approximately $9,151,000. ServiceNow comprises 1.8% of Montag & Caldwell LLC’s investment portfolio, making the stock its 24th biggest holding.

Other hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the fourth quarter valued at $29,000. EntryPoint Capital LLC boosted its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow during the 2nd quarter worth about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

NYSE:NOW opened at $878.95 on Monday. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $889.52. The stock has a market cap of $181.06 billion, a PE ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day moving average price of $807.22 and a 200 day moving average price of $766.54.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. JMP Securities raised their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday, September 9th. TD Cowen raised their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup upped their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One equities research 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. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last 90 days. Company insiders own 0.25% of the company’s stock.

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.