Compass Capital Management Inc. Takes Position in ServiceNow, Inc. $NOW

Compass Capital Management Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel reports. The firm acquired 82,898 shares of the information technology services provider’s stock, valued at approximately $8,230,000.

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

Analysts Set New Price Targets

Several research firms have issued reports on NOW. 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. Citic Securities lowered their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. FBN Securities cut their price objective on ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. BMO Capital Markets boosted their price objective on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Argus reduced their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $143.76.

ServiceNow Stock Performance

NYSE NOW opened at $124.08 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The business has a 50 day simple moving average of $107.08 and a two-hundred day simple moving average of $105.59. The stock has a market capitalization of $128.29 billion, a PE ratio of 77.55, a P/E/G ratio of 2.18 and a beta of 0.94.

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

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.