Cerity Partners LLC Has $81.84 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Cerity Partners LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 23.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 91,508 shares of the information technology services provider’s stock after acquiring an additional 17,382 shares during the period. Cerity Partners LLC’s holdings in ServiceNow were worth $81,843,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc grew 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. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of 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 buying an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter valued at about $32,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.3 %

NYSE NOW opened at $1,060.60 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day moving average is $948.53 and its 200-day moving average is $835.49. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,064.59. The firm has a market cap of $218.48 billion, a P/E ratio of 164.95, a P/E/G ratio of 6.01 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s 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 completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,644 shares of company stock valued at $19,381,744. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NOW has been the subject of several research reports. Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays boosted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their price objective on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. KeyCorp lifted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.39.

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.