Creative Planning Has $40.69 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Creative Planning lifted its position in ServiceNow, Inc. (NYSE:NOW) by 98.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 51,717 shares of the information technology services provider’s stock after buying an additional 25,608 shares during the quarter. Creative Planning’s holdings in ServiceNow were worth $40,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow during the 4th quarter valued at about $29,000. EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. BMO Capital Markets lifted their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Down 0.3 %

Shares of NYSE NOW opened at $881.79 on Monday. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46. 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 business has a fifty day moving average of $837.59 and a two-hundred day moving average of $776.29. The stock has a market cap of $180.77 billion, a PE ratio of 94.31, a PEG ratio of 5.55 and a beta of 0.98.

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

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated 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 directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock worth $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.