OMC Financial Services LTD Buys Shares of 15,518 ServiceNow, Inc. $NOW

OMC Financial Services LTD acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,518 shares of the information technology services provider’s stock, valued at approximately $1,541,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp raised its stake in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after buying an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares during the period. Finally, Morgan Stanley boosted its stake in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $124.08 on Monday. The firm has a market capitalization of $128.29 billion, a P/E ratio of 77.55, a PEG ratio of 2.18 and a beta of 0.94. The stock has a fifty day moving average of $107.08 and a 200-day moving average of $105.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NOW. TD Cowen reaffirmed a “buy” rating and set a $140.00 target price on shares of ServiceNow in a report on Friday, July 17th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. FBN Securities lowered their price objective on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.76.

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.