Oak Ridge Investments LLC Has $11.92 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Oak Ridge Investments LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,241 shares of the information technology services provider’s stock after acquiring an additional 639 shares during the quarter. ServiceNow makes up about 0.9% of Oak Ridge Investments LLC’s holdings, making the stock its 23rd biggest holding. Oak Ridge Investments LLC’s holdings in ServiceNow were worth $11,917,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC raised its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. boosted its position in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC increased its stake in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,072.02 on Friday. The firm’s 50 day moving average is $1,069.67 and its 200 day moving average is $931.27. The stock has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC upped their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.