Telos Capital Management Inc. Purchases 45,632 Shares of ServiceNow, Inc. $NOW

Telos Capital Management Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 89.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 96,572 shares of the information technology services provider’s stock after purchasing an additional 45,632 shares during the quarter. Telos Capital Management Inc.’s holdings in ServiceNow were worth $10,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. Meridian Wealth Advisors LLC grew its position in ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 12 shares during the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after acquiring an additional 13 shares during the last quarter. JT Stratford LLC boosted its stake in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after purchasing an additional 13 shares in the last quarter. Abbot Financial Management Inc. boosted its stake in shares of ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock valued at $462,000 after purchasing an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in shares of ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock valued at $205,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. Citigroup lifted their target price on shares of ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Truist Financial cut their price target on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Citic Securities decreased their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, UBS Group reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Stock Down 2.2%

Shares of NYSE:NOW opened at $92.96 on Tuesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market cap of $95.84 billion, a PE ratio of 55.40, a P/E/G ratio of 1.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50-day moving average is $99.62 and its 200 day moving average is $116.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current year.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.