Eschler Asset Management LLP Acquires New Position in ServiceNow, Inc. $NOW

Eschler Asset Management LLP acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, HoldingsChannel reports. The firm acquired 6,900 shares of the information technology services provider’s stock, valued at approximately $685,000. ServiceNow comprises 1.2% of Eschler Asset Management LLP’s holdings, making the stock its 24th largest position.

Other large investors have also recently bought and sold shares of the company. Millstone Evans Group LLC grew its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC boosted its position in ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC boosted its position in ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW opened at $128.09 on Tuesday. The firm has a market capitalization of $132.45 billion, a PE ratio of 80.06, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $109.36 and a 200 day moving average price of $105.79. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. JPMorgan Chase & Co. increased their target price on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “buy” rating and set a $140.00 price target (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a report on Tuesday, July 21st. Finally, DA Davidson set a $170.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Company 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.