Telos Capital Management Inc. Increases Stake in ServiceNow, Inc. $NOW

Key Points

• Telos Capital Management increased its stake in ServiceNow by 89.6% in the first quarter, ending with 96,572 shares worth about $10.1 million.
• Insider selling continued, with director Paul Edward Chamberlain and insider Jacqueline P. Canney both selling shares; insiders have sold 28,071 shares worth about $2.53 million over the last 90 days.
• ServiceNow shares were down 2.2% to $92.96, while analysts still largely remain positive with a Moderate Buy consensus and an average price target of $142.17.

Telos Capital Management Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 89.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 96,572 shares of the information technology services provider's stock after acquiring an additional 45,632 shares during the period. Telos Capital Management Inc.'s holdings in ServiceNow were worth $10,097,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOW. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC raised its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 128 shares during the period. Millstone Evans Group LLC raised its holdings in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. 0.34% of the stock is owned by insiders.

ServiceNow Trading Down 2.2%

ServiceNow stock opened at $92.96 on Tuesday. The stock has a market cap of $95.84 billion, a P/E ratio of 55.40, a PEG ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm's fifty day moving average price is $99.62 and its 200-day moving average price is $116.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. Capital One Financial lifted their price target on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. UBS Group reissued an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Raymond James Financial dropped their price objective on ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Argus cut their target price on ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $142.17.

About ServiceNow

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.

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