Oak Ridge Investments LLC Purchases 121 Shares of ServiceNow, Inc. $NOW

Oak Ridge Investments LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,911 shares of the information technology services provider’s stock after acquiring an additional 121 shares during the period. ServiceNow comprises about 0.9% of Oak Ridge Investments LLC’s portfolio, making the stock its 26th biggest position. Oak Ridge Investments LLC’s holdings in ServiceNow were worth $12,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC grew its position in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $30,000. Finally, Dagco Inc. bought a new stake in shares of ServiceNow in the 1st quarter valued at about $33,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 3.2%

Shares of ServiceNow stock opened at $888.63 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s 50-day moving average is $909.21 and its 200 day moving average is $932.27. The firm has a market cap of $184.84 billion, a price-to-earnings ratio of 111.92, a PEG ratio of 4.00 and a beta of 0.92.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Jefferies Financial Group upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial upped their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

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.