Centaurus Financial Inc. Increases Position in ServiceNow, Inc. (NYSE:NOW)

Centaurus Financial Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 13.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 900 shares of the information technology services provider’s stock after buying an additional 110 shares during the period. Centaurus Financial Inc.’s holdings in ServiceNow were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its stake in shares of ServiceNow by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 65,758 shares of the information technology services provider’s stock worth $24,830,000 after acquiring an additional 3,673 shares during the period. Toroso Investments LLC increased its stake in shares of ServiceNow by 4.8% during the third quarter. Toroso Investments LLC now owns 9,152 shares of the information technology services provider’s stock worth $3,456,000 after acquiring an additional 417 shares during the period. IHT Wealth Management LLC increased its stake in shares of ServiceNow by 30.3% during the third quarter. IHT Wealth Management LLC now owns 1,827 shares of the information technology services provider’s stock worth $690,000 after acquiring an additional 425 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of ServiceNow during the third quarter worth about $22,401,000. Finally, FourThought Financial LLC increased its stake in shares of ServiceNow by 4.1% during the third quarter. FourThought Financial LLC now owns 8,412 shares of the information technology services provider’s stock worth $3,176,000 after acquiring an additional 332 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW opened at $441.00 on Friday. The company has a fifty day simple moving average of $439.00 and a 200 day simple moving average of $412.18. The firm has a market cap of $89.52 billion, a price-to-earnings ratio of 275.63, a PEG ratio of 5.66 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $601.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.28. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. Equities research analysts expect that ServiceNow, Inc. will post 2.64 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the completion of the transaction, the chief executive officer now directly owns 53,117 shares of the company’s stock, valued at approximately $24,169,647.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jacqueline P. Canney sold 1,083 shares of the firm’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $461.03, for a total value of $499,295.49. Following the transaction, the insider now directly owns 267 shares in the company, valued at approximately $123,095.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $455.03, for a total transaction of $1,129,831.05. Following the completion of the transaction, the chief executive officer now owns 53,117 shares in the company, valued at $24,169,647.91. The disclosure for this sale can be found here. In the last three months, insiders sold 63,016 shares of company stock valued at $28,805,543. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. BMO Capital Markets upped their target price on shares of ServiceNow from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Oppenheimer upped their target price on shares of ServiceNow from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $485.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Canaccord Genuity Group upped their target price on shares of ServiceNow from $460.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Finally, Cowen upped their target price on shares of ServiceNow from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.47.

ServiceNow Company Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.