Atlanta Consulting Group Advisors LLC Acquires Shares of 429 ServiceNow, Inc. (NYSE:NOW)

Atlanta Consulting Group Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 429 shares of the information technology services provider’s stock, valued at approximately $384,000.

Several other hedge funds also recently made changes to their positions in the company. Spinnaker Investment Group LLC grew its holdings in ServiceNow by 4.7% in the 3rd quarter. Spinnaker Investment Group LLC now owns 309 shares of the information technology services provider’s stock worth $276,000 after acquiring an additional 14 shares during the last quarter. Accredited Investors Inc. purchased a new stake in shares of ServiceNow during the third quarter worth about $234,000. WESPAC Advisors SoCal LLC grew its stake in shares of ServiceNow by 5.6% in the third quarter. WESPAC Advisors SoCal LLC now owns 3,894 shares of the information technology services provider’s stock worth $3,483,000 after purchasing an additional 205 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in ServiceNow by 28.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 205,164 shares of the information technology services provider’s stock valued at $183,497,000 after purchasing an additional 45,099 shares during the period. Finally, Turtle Creek Wealth Advisors LLC raised its position in ServiceNow by 18.8% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 380 shares of the information technology services provider’s stock valued at $340,000 after purchasing an additional 60 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,231 shares of company stock worth $4,947,292 over the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup boosted their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Stock Performance

Shares of NOW opened at $1,011.39 on Monday. The company has a market cap of $208.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The business’s fifty day simple moving average is $932.47 and its two-hundred day simple moving average is $825.13. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

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.