Global Retirement Partners LLC Makes New $7.91 Million Investment in ServiceNow, Inc. $NOW

Global Retirement Partners LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 79,680 shares of the information technology services provider’s stock, valued at approximately $7,911,000.

Other institutional investors also recently made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow in the 3rd quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow during the third quarter valued at about $50,000. Pin Oak Investment Advisors Inc. increased its stake in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 23 shares during the last quarter. Jupiter Wealth Management LLC acquired a new stake in ServiceNow during the second quarter worth about $154,000. Finally, CBIZ Investment Advisory Services LLC raised 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 period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Weiss Ratings lowered ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Argus dropped their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Robert W. Baird lifted their price target on shares of ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.76.

ServiceNow Trading Up 0.1%

NOW opened at $124.08 on Monday. The firm’s 50 day moving average is $107.08 and its 200-day moving average is $105.59. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. 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 market capitalization of $128.29 billion, a P/E ratio of 77.55, a P/E/G ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during 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%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts expect 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.