Eschler Asset Management LLP Acquires Shares of 6,900 ServiceNow, Inc. $NOW

Eschler Asset Management LLP acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,900 shares of the information technology services provider’s stock, valued at approximately $685,000. ServiceNow accounts for about 1.2% of Eschler Asset Management LLP’s investment portfolio, making the stock its 24th largest position.

Other institutional investors have also made changes to their positions in the company. Florida Financial Advisors LLC increased its stake in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after buying an additional 14 shares during the period. Clark Capital Management Group Inc. boosted its position in ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 18 shares during the last quarter. American Trust grew its stake in shares of ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after acquiring an additional 18 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after acquiring an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its position in shares of ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after acquiring an additional 20 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.3%

NYSE:NOW opened at $128.09 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $132.45 billion, a price-to-earnings ratio of 80.06, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The stock has a 50-day simple moving average of $109.36 and a 200 day simple moving average of $105.79.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’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 directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. DA Davidson set a $170.00 price target on ServiceNow and gave the company a “buy” rating in a report on Monday, July 20th. UBS Group set a $248.00 price objective on ServiceNow in a report on Thursday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Finally, Evercore reissued an “outperform” rating and set a $160.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

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.