Telos Capital Management Inc. Has $4.44 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Telos Capital Management Inc. raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,640 shares of the information technology services provider’s stock after acquiring an additional 305 shares during the period. Telos Capital Management Inc.’s holdings in ServiceNow were worth $4,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. M&G Plc acquired a new stake in shares of ServiceNow during the 1st quarter worth $11,030,000. Smithfield Trust Co raised its stake in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares during the last quarter. New Mexico Educational Retirement Board grew its stake 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 worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after purchasing an additional 1,078 shares during the period. Finally, Summa Corp. bought a new position in shares of ServiceNow during the fourth quarter worth about $381,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup lifted their target price on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird increased their price target 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 issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $849.62.

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 7,129 shares of company stock valued at $5,759,436 in the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW traded up $23.73 on Friday, reaching $855.00. 1,920,980 shares of the company’s stock traded hands, compared to its average volume of 957,899. The stock’s 50 day simple moving average is $791.80 and its two-hundred day simple moving average is $760.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $857.25. The stock has a market cap of $176.13 billion, a PE ratio of 91.44, a PEG ratio of 5.13 and a beta of 0.99.

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

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.