Lmcg Investments LLC Has $13.03 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Lmcg Investments LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,557 shares of the information technology services provider’s stock after acquiring an additional 414 shares during the quarter. Lmcg Investments LLC’s holdings in ServiceNow were worth $13,025,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NOW. Swedbank AB bought a new stake in shares of ServiceNow during the first quarter worth $897,908,000. Global Assets Advisory LLC acquired a new stake in ServiceNow in the 1st quarter valued at about $403,034,000. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in ServiceNow in the 2nd quarter valued at $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $892.63 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $182.99 billion, a PE ratio of 95.47, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a 50 day moving average of $809.74 and a 200-day moving average of $767.40. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $897.99.

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

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,914 shares of company stock worth $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOW shares. Wells Fargo & Company raised their price target on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen upped their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Citigroup raised their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, KeyCorp lowered their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Company Profile

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.