Lyell Wealth Management LP Has $20.51 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Lyell Wealth Management LP grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,071 shares of the information technology services provider’s stock after acquiring an additional 1,568 shares during the period. ServiceNow accounts for approximately 2.0% of Lyell Wealth Management LP’s holdings, making the stock its 10th largest position. Lyell Wealth Management LP’s holdings in ServiceNow were worth $20,509,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOW. Morling Financial Advisors LLC boosted its holdings in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the period. Optas LLC boosted its holdings in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares during the period. Cedar Wealth Management LLC boosted its holdings in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 14 shares during the period. Finally, Ndwm LLC boosted its holdings in shares of ServiceNow by 0.6% during the 2nd quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JMP Securities increased their price target on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Trading Down 0.8 %

Shares of NOW stock opened at $878.95 on Friday. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $889.52. The company has a market capitalization of $181.06 billion, a P/E ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98. The firm has a 50-day moving average price of $807.22 and a 200 day moving average price of $766.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

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.