Kelly Lawrence W & Associates Inc. CA Invests $9.92 Million in ServiceNow, Inc. $NOW

Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel reports. The fund bought 99,890 shares of the information technology services provider’s stock, valued at approximately $9,917,000. ServiceNow makes up 2.1% of Kelly Lawrence W & Associates Inc. CA’s portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sone Capital Management LLC bought a new position in shares of ServiceNow during the second quarter valued at approximately $6,195,000. Womack Financial LLC bought a new stake in ServiceNow in the second quarter valued at $370,000. Fiduciary Financial Advisors purchased a new position in ServiceNow during the 2nd quarter valued at $99,000. Manning & Napier Advisors LLC purchased a new position in ServiceNow during the 2nd quarter valued at $99,661,000. Finally, L2 Asset Management LLC bought a new position in ServiceNow in the 2nd quarter worth $583,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.3%

Shares of NYSE NOW opened at $128.09 on Tuesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The stock has a market cap of $132.45 billion, a P/E ratio of 80.06, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The firm has a 50-day moving average of $109.36 and a 200 day moving average of $105.79. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business’s revenue was up 24.0% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research report on Tuesday, July 21st. BTIG Research reiterated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Wednesday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Benchmark restated a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. Finally, Bank of America lifted their price objective on ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Company 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.